contingent convertibles (CoCos)


Securities often offered to employees that can be converted from a bond to a stock when the price reaches a point that is set higher than the original strike price (the stock price at time of conversion). The holder has the right to "strike" only when the stock price exceeds the contingency price. The company gains an advantage over traditional convertibles because of the gap between strike price and contingency price.
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contingent commission contingent credit default swap (CCDS)