Meaning

noun a car that has top that can be folded or removed

noun a corporate security (usually bonds or preferred stock) that can be exchanged for another form of security (usually common stock)

noun a sofa that can be converted into a bed

originFrom Old French convertible, from Late Latin convertibilis (“interchangeable”), from Latin convertere (“to turn back, to turn over, to turn around, to turn upside down”), from con- (“with, together”) + vertere (“to turn”), + -ibilis (“-ible: able to”). Equivalent to convert + -ible.

Etymology from Wiktionary, CC BY-SA 3.0