Benefits of Bond Features Related to Stock Price

During a bond investment presentation, an analyst discusses various bond features that can significantly influence an investor's decisions. One feature highlighted is the conversion feature, which allows bondholders to exchange their bonds for a predetermined number of shares of the issuer's stock. The analysts emphasize the benefit of this feature considering stock price fluctuations.

Another feature mentioned is the sinking fund provision, a means for the issuer to manage and reduce risk by setting aside funds to repay bondholders gradually before maturity. Investors are told how this feature lessens the default risk, particularly in the event of adverse credit conditions.

Finally, the analyst touches on call provisions, which grant the issuer the right to redeem the bond before its maturity date, often at a premium to par value. This could expose investors to reinvestment risk if rates decline after the bond is called.

Given these feature discussions, which bond feature primarily benefits the investor if the issuer's stock price rises significantly after issuance?