Convertible Bond

Last updated 9 November 2026

Function reference › Bonds › Convertible Bond

1 GIAnalyzer function for Excel. Optional arguments are shown in [brackets].

GIA_Bonds_Convertible_Price

Returns the price of a convertible bond generating periodic principal and floating coupon payments, given a nominal interest rate and real interest rate for discounting future cash flows.

GIA_Bonds_Convertible_Price(FaceValue, ConversionRatio, IDate, MDate, CRate, CFr, FirstCouponDate, LastCouponDate, FPPD, FrPP, BCPI, S, Vol, DividendYield, NominalInterestRate, InflationInterestRate, CreditSpread, LCPI, VDate, Comp, Days, Steps)

Returns: Price of a convertible bond generating periodic principal and floating coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value.
`ConversionRatio`	Required	The number of shares received while converting one bond.
`IDate`	Required	The bond’s issue date.
`MDate`	Required	The bond's maturity date.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`FirstCouponDate`	Required	The date of the bond's first coupon.
`LastCouponDate`	Required	The date of the bond's last coupon.
`FPPD`	Required	The first principal payment date.
`FrPP`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly)
`BCPI`	Required	The CPI level at the inception of the deal.
`S`	Required	The spot price of the underlying asset.
`Vol`	Required	The volatility of the underlying asset.
`DividendYield`	Required	The continuous annual dividend yield.
`NominalInterestRate`	Required	The nominal interest rate used for discounting future cash flows.
`InflationInterestRate`	Required	The infaltion interest rate used for discounting future cash flows.
`CreditSpread`	Required	The credit spread, expressed in basis points, used for discounting future cash flows.
`LCPI`	Required	The CPI level at the value date.
`VDate`	Required	The value date.
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`Steps`	Required	The number of steps in the binomial tree.