municipal convertible


This type of zero-coupon municipal bond can be converted into an interest bearing bond if certain conditions apply. These bonds are typically sold at a discount to their face values. There is not tax due to the bond holder on the bond's appreciation. These bonds are also referred to as tax exempt appreciation on income realization securities.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
municipal bond market municipal inflation linked securities