Method and system for net share settlement of a convertible bond
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United States of America Patent
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N/A
Issued Date -
Jan 11, 2007
app pub date -
Oct 6, 2005
filing date -
Jul 8, 2005
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
In a system and method for net share settlement of a convertible bond, a company issues a convertible bond at a first date, the bond including at least a par value and a maturity date. At a second date that is after the first date and prior to the maturity date, a request to convert the convertible bond is received. It is determined whether at least one predetermined financial provision is satisfied. Responsive to the determination of whether the at least one predetermined financial provision is satisfied, either the request to convert the convertible bond is declined, wherein declining the request is not a default of the convertible bond, or the convertible bond is net share settled by providing par value of the bond in cash and providing stock for any in-the-money value of the convertible bond that is above the par value.
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