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小唐dadada · 2025年05月05日

convertible bond中并没有callable bond的call on bond的性质

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NO.PZ202403051000000104

问题如下:

Which of the statements made by Rhie is most likely correct?

选项:

A.Statement 3 B.Statement 2 C.Statement 1

解释:

  1. A is correct. Convertible bonds are more difficult to value than callable bonds because the analyst must consider all of the factors that affect the value of a callable bond, including interest rates and interest rate volatility, plus all of the factors that affect the issuer’s common stock price and options on its common stock, such as its price volatility.

  2. B is incorrect because an interest rate tree is used to value both a callable and a convertible bond.

  3. C is Incorrect because the value of a convertible bond equals the value of the otherwise identical option-free bond plus the value of the conversion (call) option given to the bondholder, whereas the value of a callable bond equals the value of the otherwise identical option-free bond minus the value of the call option given to the issuer.

convertible bond中并没有callable bond的call on bond的性质,为什么研究convertible bond时要考虑callable bond??

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