Why Care About Straight Bond value? The convertible bond value equals straight bond value plus conversion option value. The $828. 36 represents a floor(minimum) below which the convertible value will not fall. This occurs when the conversion option value is essentially worthless The straight bond value is subject to change as interest rates, firm risk, and time change This, in turn, is likely to impact the convertible bond value 22-1522-15 Why Care About Straight Bond Value? The convertible bond value equals straight bond value plus conversion option value. The $828.36 represents a floor (minimum) below which the convertible value will not fall. This occurs when the conversion option value is essentially worthless. The straight bond value is subject to change as interest rates, firm risk, and time change. This, in turn, is likely to impact the convertible bond value