赎回条款

凭借半隐式格式构造了投影超松弛方法，综合反映了可转换债券的美式期权特征与巴黎期权特征，给出了一个具有赎回公告期限制和软限制赎回条款可转换债券的定价模型；

Presents a pricing model of convertible bond with the soft constraint and notice period constraint call provision , which can reflect the the American and Parisian feature of convertible bond ;

本文全面介绍了二叉树模型以及偏最小二乘蒙特卡罗方法，并针对债券的转换条款，回售条款，赎回条款做了详细的分析。

In this paper , there are comprehensive introductions to the binary tree model and partial least-squares Monte Carlo method . And special for the conversion terms of the bond back to the terms of sale , redemption provisions , there are of a detailed analysis .

可转债设计变量对赎回条款价值的影响

The Impact of Convertible 's Designed Variables on Redeemed Right Value

可转换债券的组成包括债券、股票看涨期权、赎回条款、接管条款和其他例如强制回售等条款。

A convertible bond is normally composed of a bond , a stock call option , a call , a takeover clause and a put , ect .

分析证明，改进模型能较好的反映债券条款、转换条款、赎回条款和回售条款对可转换债券价值的影响，使理论价值更好地贴近实际价格。

The research indicates that innovated pricing model can reflect , in a better way , the influence upon the convertible bonds value from the bond provision , conversion provision , call provision and put provision .

债权契约的创新性设计主要是在债权契约中加入可赎回条款和可转换条款等内容，而所有这些设计都是为了解决信息不对称问题，即让债务人说真话。

As an innovative part in the creditor 's contract , a redeemable and / or transferable clause should be added . All these designs are intended to solve the problem of information asymmetry , e.g. to urge the debtor to speak the truth .

最后，在总结全文研究成果的同时，针对我国可转换债券的条款设计，如票面利率条款、转股价格条款、转股价格修正条款、赎回条款、回售条款，提出了几点对策建议。

At last , we review the research conclusion of this paper and give some suggestions about the convertible bond term design , such as the coupon rate , the conversion premium , the adjustment of conversion price , the call provisions and the put provisions .

不过，白宫方面同意，在政府收购私人公司房贷坏帐的救援计划中，加上防止屋主丧失住房赎回权的条款。

However , the administration has agreed to provisions aimed at preventing foreclosures on property mortgages the government acquires from companies as part of the bail out plan .

可转换债券经常含有其他的嵌入期权，如赎回和回售条款。

Convertible bonds often contain other embedded options such as call and put provisions .

而且，发行可转换债券时的附加条款（如赎回、回售条款等）也是定价时不可忽略的因素，这更加增大了为可转换债券定价的难度。

In addition , the attached provisions are important , such as callability provision and putability provision , and which make the pricing of convertible bonds more difficult .

文中运用二叉树期权定价模型，考虑赎回和回售条款，并结合上市的24只可转换债券，对可转换债券的定价理论和应用模型做了系统研究。

In this paper , by using the Two Binomial Tree Model and considering the call and put items , the pricing theory and corresponding pricing model of convertible bonds is systematically studied through 24 kinds of convertible bonds in China market .