单选题
Which of the following statements about how various embedded options benefit the issuers or the bondholders is least accurate? The: A. accelerated sinking fund provision favors the issuers. B. option-adjusted spread directly measures the value of the spread inclusive of the embedded option. C. conversion provision favors the bondholders if the stock price rises.
【正确答案】
B
【答案解析】The OAS is a measure of the yield spread over Treasury spot rates without the option.