The floor which, normally, is the lowest value to which a convertible bond can fall is known as the conversion value of that bond.

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The lowest value to which a convertible bond can fall is known as the bond floor, which is determined by its value as a traditional bond, independent of its conversion feature. The conversion value is the value of the bond if it were converted into the underlying stock, which can vary independently of the bond floor.

The Floor Which, Normally, Is the Lowest Value to Which