Callable bonds(可提前赎回债券):发行人可以选择在到期前赎回债券 Puttable bonds(可回售债券):债券持有人可以选择在到期前赎回债券 可赎回债券可以分解成普通债券和债券看涨期权的组合,可回售债券可以分解成普通债券和债券...
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可赎回债券可以分解成普通债券和债券看涨期权的组合,可回售债券可以分解成普通债券和债券看跌期权的组合。
Callable bonds can be decomposed into bond and bond's call option, while puttable bonds can be decomposed into bond and bond's put option.
可转换债券经常含有其他的嵌入期权,如赎回和回售条款。
Convertible bonds often contain other embedded options such as call and put provisions.
而且,发行可转换债券时的附加条款(如赎回、回售条款等)也是定价时不可忽略的因素,这更加增大了为可转换债券定价的难度。
In addition, the attached provisions are important, such as callability provision and putability provision, and which make the pricing of convertible bonds more difficult.
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