Biology Forums - Study Force

Liquid yield option notes or LYONS have which of the following characteristics?

I.	convertibility at a fixed conversion ratio

II.	high coupon rates

III.	a put feature that guarantees the right to redeem the bonds at a prespecified price

IV.	convertibility at a fixed conversion price

▸ I and III only

▸ II and IV only

▸ I and IV only

▸ II and III only

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