# We are given 12% p.a CONVERTIBLE half yearly coupon rate. Should we not convert this to an ANNUAL Effective coupon rate

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We are given 12% p.a CONVERTIBLE half yearly coupon rate. Should we not convert this to an ANNUAL Effective coupon rate 12.36% then use this to calculate the annual coupon (R24.72 ) thus 2 coupons per annum of R12.36?