nik.sala
Money Never Sleeps
Direi di si x il momento.
Le hai ?
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3 (4 lettori)
- Creatore Discussione Joe Silver
- Data di Inizio
Le hai ?
gomma590
Nuovo forumer
concordo.
continuiamo con l'operatività
continuiamo con l'operatività
Dai bona con queste inutili polemiche e sterili discussioni..
Intanto sell IKB XS0200612355 a 93 (pmc 75..)
Andre_Sant
Forumer storico
ciao, ripensavo ai bond DB AT1 DE000DB7XHP3 , in particolare a quello in euro appena emesso (il 6% a 8 anni..)
qualcuno saprebbe dirmi quali sono le condizioni del titolo (ossia con quale coefficente di t1 il bond puo' essere annullato, e cose così?)
grazie
ciao
Andrea
qualcuno saprebbe dirmi quali sono le condizioni del titolo (ossia con quale coefficente di t1 il bond puo' essere annullato, e cose così?)
grazie
ciao
Andrea
gomma590
Nuovo forumer
le stavo per prendere.
per fortuna c'era poca carta.
dai spero per te che si riprendano.
a presto
per fortuna c'era poca carta.
dai spero per te che si riprendano.
a presto
Andre_Sant
Forumer storico
mi rispondo da solo:
Feature Mechanism
Cancellation of interest payments:
Interest payments will not be made, the Bank elects to cancel the payment, in whole or in part, at its sole
discretion.
Interest payments will be cancelled:
— to the extent such payment of interest, together with any distributions previously made on Tier 1
Instruments in the then current fiscal year, would exceed a sum of Available Distributable Items, increased
by the aggregate interest expense relating to Tier 1 Instruments reflected in the financial statements for the
preceding year (see page 9), or
— if and to the extent the competent supervisory authority orders the Bank to cancel an interest payment in
whole or in part or another prohibition of interest payments is imposed by law or an authority
-----------
Write-down :
“Trigger Event” will have occurred if the CET1 ratio of the Bank, determined on a consolidated basis, falls
mechanism
gg
below 5.125% (phase-in)
The write-down will be effected on a pro-rata basis among all AT1 instruments sharing a trigger-based writedown
mechanism in an aggregate amount as required to restore the consolidated CET1 ratio of the Bank to
5.125%
---------
Write-up:
write the AT1 Instruments on a pro
mechanism
The Bank may at its sole discretion in subsequent fiscal years effect a write-up of rata basis
The amount of such write-up will be limited by the proportion of the annual profit of the Bank which represents
the share of the initial nominal amount of an individual AT1 Instrument subject to a write-down in the aggregate
Tier 1 capital of the Bank before a write-up taking effect and will be further limited by MDA restrictions (Art. 141
(§ 10c et sq German Banking and § SolvV)) (2) CRD4 as implemented by sq. Act (KWG) 37 Solvency Regulation (applicable to the Bank at the time of such intended write-up
Feature Mechanism
Cancellation of interest payments:
Interest payments will not be made, the Bank elects to cancel the payment, in whole or in part, at its sole
discretion.
Interest payments will be cancelled:
— to the extent such payment of interest, together with any distributions previously made on Tier 1
Instruments in the then current fiscal year, would exceed a sum of Available Distributable Items, increased
by the aggregate interest expense relating to Tier 1 Instruments reflected in the financial statements for the
preceding year (see page 9), or
— if and to the extent the competent supervisory authority orders the Bank to cancel an interest payment in
whole or in part or another prohibition of interest payments is imposed by law or an authority
-----------
Write-down :
“Trigger Event” will have occurred if the CET1 ratio of the Bank, determined on a consolidated basis, falls
mechanism
gg
below 5.125% (phase-in)
The write-down will be effected on a pro-rata basis among all AT1 instruments sharing a trigger-based writedown
mechanism in an aggregate amount as required to restore the consolidated CET1 ratio of the Bank to
5.125%
---------
Write-up:
write the AT1 Instruments on a pro
mechanism
The Bank may at its sole discretion in subsequent fiscal years effect a write-up of rata basis
The amount of such write-up will be limited by the proportion of the annual profit of the Bank which represents
the share of the initial nominal amount of an individual AT1 Instrument subject to a write-down in the aggregate
Tier 1 capital of the Bank before a write-up taking effect and will be further limited by MDA restrictions (Art. 141
(§ 10c et sq German Banking and § SolvV)) (2) CRD4 as implemented by sq. Act (KWG) 37 Solvency Regulation (applicable to the Bank at the time of such intended write-up
Rottweiler
Forumer storico
...e se vuoi saperne qualcosa in più, vai qui:
http://www.investireoggi.it/forum/t...zioni-perpetue-vt67146-12236.html#post3894081
Non per spaventarti, ma solo per informazione:
Deutsche Bank Is Scaring Bondholders for a Good Cause - Bloomberg View
Vet
Forumer storico
La soglia ,per convertire l'obbligazione in azione o in altri strumenti AT1 in toto o in parte, del tier 1 e' del 5.125..%.. ( rapporto CETI..misura la solidità finanziaria di una banca) tieni presente che dopo l' AUC , peraltro già sottoscritto in buona parte dagli Emiri ..,DB passa abbondantemente 11%.....d'altronde se DB dovesse arrivare sotto al 6% penso che in Europa ,e non solo ,non avremo più il problema di dove investire i ns denari
Per quanto riguarda il pagamento delle cedole ti può essere utile leggere questo sunto :
mandatory cancellation if and to the exetent that interest payment is not coverend by sum of available distributable items of the bank on a non cosolidated basais plus interest expense in respect of tier 1 instruments for preceding fiscal year, minus , preceding payments on tier 1 instruments in current fiscal year ; or distribution prohibited by order of competent authority or applicable law
Cortesemente ,qualcuno assai più ferrato di me su Groupama ,può spiegarmi le differenze fra la vecchia T1 al 6%!e rotti che quota attorno ai 100...e la nuova che viaggia sui 103 ....a pochi giorni dal collocamento
Ultima modifica:
fabriziof
Forumer storico
La nuova é ut2
Vet
Forumer storico
E' quindi teoricamente una ha la cedola cumulativa in caso di skip... e l'altra no......