Which one of the following statements related to convertible bonds is correct?
A. Convertible bonds must be converted once they are called.
B. Convertible bonds have limited downside risk with unlimited upside potential.
C. Convertible bonds must be converted prior to or on the maturity date.
D. A convertible bond is in-the-money when its call price is greater than its conversion value.
E. Convertible bonds have a maximum value equal to the bond's intrinsic value.
Answer: B
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