Contingent Convertible

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Contingent Convertible

A convertible bond in which the price of the underlying stock must reach a certain level before conversion is allowed. All convertible bonds have a conversion price, that is, the price one pays in order to exchange the bonds for stocks. Contingent convertible bonds, however, have a second, higher price that the underlying stock must meet before a bondholder is allowed to convert. For example, the conversion price for a convertible bond may be $10 per share, but if the stock price is below $20 per share, the investor may not convert the bond.
References in periodicals archive ?
We consider a financial institution issuing CoCos with an accounting trigger and all-at-once conversion.
Currently, the Cocos (Keeling) Islands possess some strategic value for the Australian state.
Cocos may qualify as additional Tier 1 capital or as less-reliably loss absorbing Tier 2 components of regulatory capital.
Cocos nucifera (Coconut Palm) is a large palm, growing up to 30 m (98 ft) tall, with pinnate leaves 4-6 m (13-20 ft) long, and pinnae 60-90 cm long.
PDSC's case against Chevron stemmed from the move of the latter's sister company, Chevron Services Philippines Inc., to open in 2003 company-owned company-operated (COCO) Caltex gasoline stations and engage in selling Caltex products, particularly fuel and lubricants, "like an ordinary Caltex dealer."
Other concerns have been voiced about cocos. Some observers feel they are not fully visible until converted, at which point they can have a substantial, unexpected effect on an already vulnerable share price.
So if the cocos are already included in the EUR 10 bln or so that has been the main reference for our assumptions, then Cyprus must find even more to bring its debt level down to a more sustainable level.
Mae'n gorffen yr erthygl gyda'r dyfyniad: Helir cocos yn Nhraeth Lafan, Ond brwyn at ganhwyllau yn Ysbyty Ifan Tybed oes rhywun weyr pwy ydoedd W.R.D., awdur yr erthygl?
JACQUES COUSTEAU DESCRIBED COCOS ISLAND as the most beautiful island in the world, and the few people who have a chance to visit would likely agree with the praise.
CDEEE chief Celso Marranzini witnessed a US$3.2 million deal between Ede-Sur and Ege-Haina for refurbishing the power lines in Los Cocos, Juancho, Villa Esperanza and Oviedo.