is a convertible callable and putable zero coupon bonds and may be bought or sold as an option...........

Finance (Phase -I & II) Valuation of Securities

_________ is a convertible, callable and putable zero-coupon bonds and may be bought or sold as an option, but which does not pay interest, issued at discount and redeem at par:

Liquid Yield Option Note (LYON)

Zero Coupon Bonds (ZCB)

Convertible Bonds

None of the above

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Explanation:

Liquid Yield Option Note is a convertible, callable and putable zero-coupon bonds and may be bought or sold as an option, but which does not pay interest, issued at discount and redeem at par.