Abstract: The default capital reorganization scheme of debt-equity swap is an important solution when the value of the company's assets fluctuated sharply. Under a real market, the paper considers the pricing problems of the corporate debt with the finite maturity in jump-diffusion model with $-1$ jump size. The pricing continuous mathematical model of the corporate equity and debt are constructed by applying a structural method and synthesized the stochastic analysis theory. The existence and uniqueness of an optimal default boundary and the monotonicity of the corporate equity value are proved by a partial differential equation penalty method. At last, the numerical simulation shows that,with the increase of jump intensity, the optimal default boundary of the company decreases, while the stock value increases and the bond value decreases. The attraction of corporate bonds to market investors will be reduced when the company's assets are likely to drop to zero in a flash, equity-holders should reduce the probability of default to improve their credit rating, so as to improve the value of the stock.

Key words: structural method, jump-diffusion, default capital reorganization, corporate debt, optimal default boundary, existence and uniqueness