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Over 700 finance terms, Shmooped to perfection.
A minister dips a lot of heads in a river. The number who actually adopt his believes relative to the total dunked is his conversion ratio. The term also refers to the number of shares a bond is "convertible into" - that is a $1,000 par value bond might convert into 100 shares. At ten bucks a share, the conversion is break-even-ish.