conversion privilege

noun

Definition of conversion privilege

: the contractual right to exchange one security for another at the owner's option (as the right to exchange bonds to common stock of the issuer at a fixed ratio)

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Cite this Entry

“Conversion privilege.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/conversion%20privilege. Accessed 24 Oct. 2020.

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