These differences are called premium and discount, respectively, for par value stock. However, shares are rarely issued at a discount.

对有面值的股票来说，这些差额分别称为溢价和折价，但股份很少折价发行。

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Most convertible securities allow the buyer to convert into common stock at a fixed conversion price set at a modest premium to wherever the common is trading at the time the convertible security is issued.

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