Contingent Convertible

(redirected from Cocos)
Also found in: Dictionary, Thesaurus, Acronyms, Encyclopedia, Wikipedia.

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 ?
--Mire, la constitucion de la Placa de Norteamerica es menos densa que la de la Placa de Cocos. La capa superior de esta, al entrar por abajo de las costas guerrerenses, debe tener una densidad de unos 2 mil 800 kilogramos por cada metro cubico.
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.
With a view to evaluating how much the issuance of CoCos affects banks' values, Pennacchi (2010) compares risk incentives between banks that issue CoCos and those that only issue subordinated debts and shows that the benefit of CoCos may be offset if a bank has the incentive to increase its risk in search of higher returns, given that the conversion of the principal into capital transfers the original shareholders' risk to investors in these securities, and the incentives for displacement to riskier assets increases as the equity of the bank decreases.
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.