A Step-Up in the Conversion Price Refers To

A step-up in the conversion price refers to:

A) the ability of the company to step up the maturity of the bond to an earlier date.
B) the provision that increases the conversion ratio the longer a convertible bond is held.
C) a refunding of a convertible bond when the conversion value equals the pure bond value.
D) the holder may pay a progressively higher option price if he or she does not exercise by a given date.