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In this video on convertible debentures, the focus is on the investment value, which represents the worth of convertible debentures when considered as non-convertible. This entails evaluating their value without the option to convert them into company stock. The investment value, also referred to as security value, highlights what these debentures are worth in the absence of their conversion feature. The tutorial aims to explore this concept in detail, treating the convertible debentures as if they lacked the ability to convert into equity. The various terminologies used—investment value and security value—indicate the same underlying principle.