What does BOND VALUE mean?

BOND VALUE meaning in Law Dictionary

the cheapest TRADING worth of a CONVERTIBLE BOND, which takes place when the embedded equity choice is well OUTOFTHEMONEY in addition to relationship is paying its regular COUPON. When a convertible is trading at bond worth, its price is usually identical (or virtually identical) to a typical bond with the exact same coupon and readiness. Also known as BOND FLOOR.