Yield指收益率，put指出售（如put option出售选择权），yield to put则指出售/回售收益率，在可转债认购协议中，一般指债券的收益率：

yield to put回售收益率

回售收益率是指假设债券持有人在行权期的第一天就执行回售权时，债券所内含的收益率。YIELD TO PUT is the effective annual rate of return a bond earns assuming it is held until the bond's put date, not maturity, and is put (sold) to the issuer at a specific price (put price).

利率较高时，债券价格下跌到低于回售价格时，可回售债券的投资者将执行选择权，将债券出售给发行者。尽管购买债券时是否将执行回售条款并不确定，但在此假设下可计算出一个参考收益率。回售收益率很可能高于到期收益率。

而yield to worst则指的是最坏收益率

最坏收益率被理解为当最坏情况发生时债券发行的到期收益率。Yield to worst is a measure of the lowest possible yield that can be received on a bond that fully operates within the terms of its contract without defaulting. It is a type of yield that is referenced when a bond has provisions that would allow the issuer to close it out before it matures. 

作为所有到期收益率预测中的最低值，收益率至最差收益率做出了许多不同的假设，并将其应用于债券收益率。这种方法有助于证明哪些因素会以负面方式影响债券收益率。"最差"代表到期收益率的最低报价，计算是考虑债券发行时的一个重要考虑因素。最差收益率时要考虑的几个因素计算方法有点普遍，而其他方法则倾向于减少发生的可能性。

以下为相关双语示例，供参考：

(cc) Amount payable on early redemption: Notwithstanding anything contrary to this Agreement, 山e amount of early redemption shall be calculated by adding the interest amount of eight percent (8%) ("Yield to Put or YTP") on the principal amount of the Convertible Bonds hold by the relevant Bond holders. If the Early Redemption Date is not a Business Day, the immediately 础 owing Business Day shall be the Early Redemption Date, and no further interest or other payment shall be made in respect of such delay. For avoidance of doubt, any coupon accrued by the Early Redemption Date shall also be calculated and paid to the Bondholders in addition to the YTP.

(cc) 提前赎回时应付金额：尽管有任何与本协议相反的规定，提前赎回的金额应通过将相关债券持有人持有的可转换债券本金加上按百分之八（8%）计收的利息金额（“出售收益率”）来计算。如果提前赎回日不是工作日，则紧接着的下一个工作日应为提前赎回日，且不得要求就该延迟支付进一步的利息或其他款项。为免生疑问，除出售收益外，截至提前赎回日累积的息票也应计算并支付给债券持有人。