UBS Deck
What is a convertible bond, why do issuers use them, and how do converts affect diluted share count? (Equity-linked is classic UBS territory.)
Model answer
A convertible is a bond plus an embedded call option on the issuer's stock: the holder can convert into a set number of shares (the conversion ratio) if the stock rises above the conversion price,…
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More from UBS Deck
- What does UBS stand for, and where does the firm come from?
- In the 1998 merger that created UBS, what did Union Bank of Switzerland and Swiss Bank Corporation each bring to the combined firm?
- What was S.G. Warburg, and why does it still matter for understanding UBS's investment bank?
- What was the significance of UBS's acquisition of PaineWebber in 2000?
- What happened to UBS in the 2008 financial crisis — the settled facts a candidate should know?
- Describe UBS's 2012 strategic pivot — what changed, why, and why it is the single most important fact for understanding today's firm.
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