Premium Put Convertible

A convertible bond with an additional put feature that allows it to be redeemed at a premium sometime during its life.

|||Similar to a regular put option, the issuer of the premium put convertible bond has an obligation to buy back the bond upon the discretion of the bondholder. Thus, the put option attached to this convertible bond allows it to be redeemed at a premium by the bondholder anytime before maturity.