Definition of convertible in US English:

convertible

adjective

  • 1Able to be changed in form, function, or character.

    ‘a living room that is miraculously convertible into a bedroom’
    • ‘But they can postpone the dilution if they add another condition, or contingency, to the standard convertible terms.’
    • ‘Again the convertible mechanism varied from one sofa bed to another.’
    • ‘Police say the weapons were seized as it is suspected that they breach the 1982 Firearms Act, which prohibits the selling of readily convertible blank firing weapons.’
    • ‘Undoubtedly, his most ingenious wartime design was a convertible shipping crate for a Bofors 90 mm antiaircraft gun.’
    • ‘After reassessing the project, the government decided to cancel the original design for a convertible roof.’
    • ‘They provided loans which were convertible to equity on certain conditions.’
    • ‘One of my purchases was a convertible padded bra.’
    • ‘And not only eminently convertible Victorian primaries are in trouble.’
    • ‘There was a queen-size bed, convertible sofa, and pull-down bunk.’
    • ‘No payments will be paid for 3 years, and at that time it will be convertible into equity if he chooses (which he probably will).’
    • ‘This would usually be a level-term policy with a convertible option which allows you the choice of renewing the life policy in the future, based on your health when you bought the initial term insurance.’
    • ‘Should there be foldout or convertible sofa beds planned for any other rooms?’
    • ‘Serena's domination, of course, is directly convertible into dollars.’
    • ‘Finally, it is possible to buy convertible terms, which allow consumers to switch into other life contracts without further medical investigation.’
    • ‘Broadband internet access will be available for each student and all apartments will be readily convertible to a multitude of domestic layouts.’
    • ‘Some of the larger German stadia include areas of convertible seating, introduced mainly because of the demands of Uefa and Fifa.’
    • ‘The three storey accommodation is easily convertible to a capacious yet intimate restaurant.’
    • ‘Police are working to stop the flow of convertible guns into Britain, but growing sales on uncontrolled internet sites are worrying.’
    changeable, able to be changed, exchangeable
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    1. 1.1 (of currency) able to be converted into other forms, especially into gold or US dollars.
      • ‘And it has to have the feature of a fully convertible currency, which the Bahamas doesn't have today.’
      • ‘Late at night, the cargoes leave for another country, where they are sold for dollars or another convertible currency.’
      • ‘The gold standard is a monetary system in which paper money is freely convertible into a fixed amount of gold.’
      • ‘In the late nineteenth century, for example, most currencies were convertible into gold, effectively fixing their exchange rates.’
      • ‘He has imposed his own choice for the country's currency - with a convertible link to the German Mark - and his preference for the design of new coins.’
      • ‘Pegging has typically been a way to substantiate the value of a local currency against the world's convertible currencies and to stabilize the exchange rate.’
      • ‘But at the same time, the country was economically bankrupt and the population was clamoring for a stable, convertible currency.’
      • ‘Donations can be made in any convertible currency.’
      • ‘Hong Kong has a strong rule of law, its currency is fully convertible, and there are no restrictions on capital.’
      • ‘The dollar became the only currency still convertible to gold on demand - but only by treasuries and banks, not individuals.’
      • ‘Other currencies would be convertible to dollars at fixed exchange rates.’
      • ‘Besides, what this would mean is that the air time would then be sold in any convertible currency, further removing the focus on the US dollar.’
      • ‘Nasdaq would form a trading platform once the rupee was made fully convertible.’
      • ‘Banks will soon stop conducting dollar transactions, and companies or people with dollar-denominated accounts will have to change them to convertible pesos.’
      • ‘Thus, Studwell notes, promises in the early 1980s that the currency would be convertible as early as 1993 are now put off well into the future.’
      • ‘He did not expect the yuan would become fully convertible in the next five to 10 years.’
      • ‘However, current-account deficits are not very useful as warning signals for countries that have fully convertible currencies.’
      • ‘Permanent, stable, and convertible currencies were introduced in Lithuania and Latvia in 1993.’
      • ‘In the 1950s European currencies were not convertible and domestic trade was highly protected.’
      • ‘These interventions involved buying or selling financial assets payable in U.S. dollars or other convertible currencies.’
      negotiable, disposable, usable, realizable, obtainable, spendable
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    2. 1.2 (of a bond or stock) able to be converted into ordinary or preference shares.
      • ‘His results, however, are specific model dependent and constitute a test of the particular model employed rather than a test of the pricing behaviour of convertible bonds.’
      • ‘However, as the convertible bond and the stock can move independently, the arbitrageur can lose on both the bond and the stock, which means the position carries risk.’
      • ‘It has been supported financially by 75-per-cent stakeholder High Fashion International through the issue of convertible notes.’
      • ‘This chart shows the performance of a convertible bond as the stock price rises.’
      • ‘Investors favor convertible bonds when stocks are falling because they combine the protection offered by a bond and the potential to profit if the underlying shares rally.’
      • ‘Those enterprises that have managed to maintain good investment-grade credit ratings may be able to raise capital by selling convertible bonds.’
      • ‘Convertible preferreds work in the same way as convertible bonds.’
      • ‘It buys the convertible bonds of a company and shorts the underlying stock.’
      • ‘The evidence provided in this paper suggests an underpricing of convertible bonds to the extent that negative conversion option prices are often implied.’
      • ‘The Tokyo Stock Exchange will relax its rules on issuing convertible bonds to prevent the hollowing out of the domestic market, a press report said yesterday.’
      • ‘Thus, the number of convertible bond prices that can be examined is limited to the availability of nonconvertible corporate bonds in the same cell the convertible bond belongs in.’
      • ‘This allows us to get a first yield spread estimate and, thus, a first price estimate of the equivalent nonconvertible bond for a greater number of convertible bonds.’
      • ‘Attracted by the opportunity for arbitrage with the stock market, hedge funds have also been big buyers of convertible bonds.’
      • ‘The remainder is invested into common and preferred stock, and cash and convertible bonds, which can be transformed into equity at an investor's discretion.’
      • ‘‘I would never have thought of convertible bonds on my own,’ he says.’
      • ‘The approach, which makes an assumption about the functional form of the yield premium, drastically increases the number of convertible bonds examined.’
      • ‘Sometimes, there are very attractive companies that don't have straight high-yield bonds but they do have convertible bonds.’
      • ‘Furthermore, some of the violations documented in this case can also be the result of nonsynchronous trading between the convertible bond and the underlying stock.’
      • ‘Unlike with regular bonds, however, you can exchange your convertible bond for stock in the company at a certain price.’
      • ‘The market for convertible bonds in particular has picked up steam as companies rush to raise funds while global interest rates remain low.’
    3. 1.3 (of a car) having a folding or detachable roof.
      ‘his white convertible Mercedes’
      • ‘This lets workers do the convertible roof assembly, allowing convertibles to go down the same line as the sedans.’
      • ‘A mother and daughter in a silver convertible BMW with its roof down, were chased and targeted by the violent rider of a Vespa-type moped.’
      • ‘A £38,000 BMW M3 convertible car, which had been stolen in a commercial burglary in Leeds, was recovered in East Bowling.’
      • ‘Volvo safety engineers have perfected a head protection inflatable curtain for convertible cars which will appear in the next generation of the company's convertibles.’
      • ‘There were many efforts to create convertible versions of the old Mini of years gone by, but all involved aftermarket conversions, some of which were pretty rough around the edges.’
      • ‘You enjoy the soundtrack a lot more in the convertible version, and I could often be found in tunnels, gearing down, top down, and enjoying the soundtrack of this engine.’
      • ‘Sometimes I think a retractable roof over the backyard would be a good idea: one that I could slide out when needed like a convertible car.’
      • ‘Despite our country's uncertain climate - or maybe because of it - sales of convertible cars in Ireland have increased dramatically in recent years.’
      • ‘This includes return flights from Dublin via Newark, 14 nights accommodation, six-day convertible car hire, taxes and insurance.’
      • ‘Travis strolled down the main avenue leading to the Capital high rise watching the convertible cars fly overhead to avoid the street traffic.’
      • ‘The convertible segment represents 300,000 U.S. sales annually.’
      • ‘Of interest to convertible die-hards will be the configuration of the roof which is in the process of being finalised.’
      • ‘What's more, a coupe and a convertible version of the G6 are coming.’
      • ‘There is projected growth in the convertible market in Europe.’
      • ‘They approached a convertible car recently left abandoned on the street, and both climbed in.’
      • ‘A few days ago, the singer was driving in her convertible Mini Cooper with Sean in the back, facing forward - not a good idea says the State of California.’
      • ‘As I approach 40 I think it is high time I got myself the convertible car I've been dreaming of for 20 years.’
      • ‘Of course you get jealous of those people with nice convertible cars.’
      • ‘Some of the convertible cars speeding beneath us rode topless.’
      • ‘After that, following the industry trend, a steel roof coupé / convertible model will be unveiled at the Frankfurt show in September.’
    4. 1.4Logic (of terms) synonymous.
      • ‘Toward the end of Eureka, he increasingly phrases his points in tautological formats, such as "symmetry and consistency are convertible terms."’
      • ‘Euclid uses Analogy and Proportion as convertible terms.’

noun

  • 1A car with a folding or detachable roof.

    • ‘The boot is of a reasonable size and compared to other convertibles, the roof does not intrude.’
    • ‘Any pulling power seemed to be confined to the engine, as far as I was concerned, and I found the overall look of the car rather staid; without the personality of, say, the Saab convertible.’
    • ‘Another convertible that caught the eye came from the U.S.’
    • ‘It was surmised that it was all due to the limited demand that time for coupes and also due to the high price of both models - the coupe and the convertible.’
    • ‘It's also said to have better bending rigidity than either a coupe or a convertible.’
    • ‘The suspension settings have also been adapted from the coupe to suit the convertible's ride characteristics.’
    • ‘It will probably rain later, but for now, Tristan Campbell has lowered the convertible's roof, letting the heat and light envelop him.’
    • ‘Or, will the new convertible simply eat into sedan sales?’
    • ‘One of the boxes was so big we had to open the roof of the Chrysler convertible in order to get it onto the back seat.’
    • ‘Who wouldn't like to drive a convertible for a week during early March in Michigan?’
    • ‘Most soft-top convertibles seem like a good idea at the time.’
    • ‘Late last year, a two-door coupe made its way to the market, and this year 2006, a two-door convertible will be rolling off the highways.’
    • ‘This lets workers do the convertible roof assembly, allowing convertibles to go down the same line as the sedans.’
    • ‘Traditional wood is still available (in two finishes) which works equally well with brown trim as used on the convertible I drove in the afternoon.’
    • ‘The Germans offer station wagons, coupes and convertibles, even hatchbacks, in several series.’
    • ‘Jesse moved past her and got into his convertible, pulling the roof up overhead.’
    • ‘But at the same time, the platform is so solid it's hard to believe the car is a convertible.’
    • ‘As a quick test, imagine you're in a convertible shooting down some west coast highway (as in California, not Wales), one hand on an illusory steering wheel.’
    • ‘Then he drove his convertible into a tree, killing himself and another.’
    • ‘When these show up in configurations such as convertibles and station wagons, the rest might as well pack up their slide rules or get on the bus.’
    soft-top, ragtop, targa
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  • 2usually convertiblesA convertible security.

    • ‘At their most basic, convertibles provide a sort of security blanket for investors wishing to participate in the growth of a particular company they're unsure of.’
    • ‘This is a relatively modest discount to the equity return, but an acceptable one in the context of the additional capital value protection offered by convertibles.’
    • ‘When John P. Calamos Sr. started buying convertibles in the 1970s, most investors thought of cars, not bonds.’
    • ‘If these bonds were regular convertibles, they could be swapped for stock as soon as the price reached $56.50.’
    • ‘We target 15% annualized returns for our convertibles products and 12% to 15% in our high-yield products.’
    • ‘If rates rise and stocks fall, convertibles might not do more than crawl.’
    • ‘The price of the convertibles has fallen dramatically in line with the shares and they are now yielding 19 per cent to the first ‘poison put’ date in December of next year.’
    • ‘The current boom in zero-coupon convertibles owes much to the volatility of the equity market.’
    • ‘Because of this attractive feature, the interest rate on convertibles is usually lower.’
    • ‘But hedge funds, brokerages, and traders have gobbled up convertibles and sold the issuers' stock short, forcing the markets yet lower.’
    • ‘We also rate funds in their individual categories, such as international, high-yield, and convertibles, comparing them only with their peers.’
    • ‘Investments such as stocks and shares in a company, bonds and debentures issued by companies, governments or public authorities, warrants and convertibles, all confer on the investor rights against the issuer.’
    • ‘From a financial standpoint, convertibles work well for a number of reasons.’
    • ‘Thanks to the equity correction we've had over the past year or so, a lot of convertibles are trading at yields that are competitive with high-yield debt.’
    • ‘‘The rating agencies don't give you any equity credit for convertibles, so we see the contingency feature bringing that disparity into line through the accounting rules,’ says Malcolm.’
    • ‘Higher-premium convertibles act more like bonds since it's less likely that they will offer the chance for a profitable conversion.’
    • ‘Take your pick: junk bonds, convertibles, emerging market debt, muni debt, credit default swaps, equities and, of course, unprecedented excesses throughout mortgage finance.’

Origin

Late Middle English (in the sense ‘interchangeable’): from Old French, from Latin convertibilis, from convertere ‘turn about’ (see convert).

Pronunciation

convertible

/kənˈvərdəb(ə)l//kənˈvərdəb(ə)l/