UBS issued "CoCo bond" with a term of 10 years
UBS AG issued a so-called CoCo bonds (contingent convertible) . This is due to mandatory convertible notes. CoCo bonds, subordinated bonds. They are converted into equity under certain conditions, usually in shares of the issuer. Upon conversion, the occurrence of an event, a so-called trigger is required. If common equity achieved in relation to risk-weighted assets, a certain limit or falls below the trigger to convert the CoCo bond is triggered in equities.
of the transaction:
Issuer: UBS AG, Branch Stamford
Running time: 10 years
Erwart. Ratings: each BBB-by S & P and Fitch,
Angew. right: Swiss law
Denomination: $ 250,000
Coupon: n.bek. (Fixed)
Listing: Dublin,
Global Coordinator: UBS
Joint Bookrunners: Barclays Capital, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Royal Bank of Scotland, Wells Fargo
timing: in the morning
UBS AG issued a so-called CoCo bonds (contingent convertible) . This is due to mandatory convertible notes. CoCo bonds, subordinated bonds. They are converted into equity under certain conditions, usually in shares of the issuer. Upon conversion, the occurrence of an event, a so-called trigger is required. If common equity achieved in relation to risk-weighted assets, a certain limit or falls below the trigger to convert the CoCo bond is triggered in equities.
of the transaction:
Issuer: UBS AG, Branch Stamford
Running time: 10 years
Erwart. Ratings: each BBB-by S & P and Fitch,
Angew. right: Swiss law
Denomination: $ 250,000
Coupon: n.bek. (Fixed)
Listing: Dublin,
Global Coordinator: UBS
Joint Bookrunners: Barclays Capital, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Royal Bank of Scotland, Wells Fargo
timing: in the morning