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FOLITIC / HYBRID SECURITIES
Understand securities that combine features of debt, equity and derivatives. Follow eight stages covering preferred shares, convertibles, corporate hybrids, bank capital and structured notes.
Start with What makes a security a hybrid, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
Conversion adjustments · All lessons
Calculate conversion value and study how equity participation changes the investment.
Intermediate
Conversion adjustments may preserve a defined economic relationship after corporate actions. They do not eliminate every source of dilution or protect an investor from business losses.
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