Bond with an embedded conversion option that gives the bondholder the right to convert their bonds into the issuer’s common stock during a pre-determined period at a pre-determined price. Conversion Period For a convertible bond, the period during which bondholders have the right to convert their bonds into shares. Conversion Price For a convertible bond, the price per share at which the bond can be converted into shares. Conversion Ratio For a convertible bond, the number of shares of common stock that a bondholder receives from converting the bond into shares. Conversion Value For a convertible bond, the value of the bond if it is converted at the market price of the shares. Also called parity value.