Convertible Subordinate Note
A short-term debt security (note), that can be changed into common stock (convertible) and ranks below other loans (subordinate).
|||Don't let all the words in this term intimidate you. Break up the term and it's easy to see this is just a short term bond that has the conditions of being 1) convertible to stock, and 2) subordinate to other debt.
This is a common type of debt that companies issue.
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