An isthmus is a land bridge bordered on both sides by water that connects two larger bodies of land. A narrow strip of land with sea on either side. (dictionary.com) An Isthmus is a narrow strip of land connecting two larger land areas usually with water on either side. Of note, the Isthmus of Corinth connects the peninsula of Peloponnese with the rest of the Greek peninsula, the Isthmus of Panama connects the continents of North and South America (the Americas), and the Isthmus of Suez in Egypt connects Africa and Asia (or Eurasia).
straight bond. Definition. Bond which will pay back the principal on its maturity date, will pay a specified amount of interest on specific dates, and does not carry a conversion privilege or other special features.
8 The Straight Bond Component l Embedded in every convertible bond is a straight bond component. l The easiest way to value the straight bond component is to act as if the conversion option does not exist and value the bond.