What would be the "stock" value of a bond that was convertible to 40 shares of stock if the stock was priced at 19.70?

Convertible Bond

a type of bond that can be converted into a predetermined amount of the issuer's equity, typically common stock, at certain times during its life, usually at the discretion of the bondholder.

Stock Value

The market value of a company's shares, determined by supply and demand in the stock market.