convertible
as defined in Directive 2006/49/EC of the European Parliament and of the Council of 14 June…, Article 3(1), point (j)
a security which, at the option of the holder, may be exchanged for another security;
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Also defined in
- Council Directive 93/6/EEC of 15 March 1993 on the capital adequacy of investments firms and credit institutions 31993L0006, Article 2, point (14)
a security which, at the option of the holder, can be exchanged for another security, usually the equity of the issuer