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FOLITIC / HYBRID SECURITIES
Understand securities that combine features of debt, equity and derivatives. Follow eight stages covering preferred shares, convertibles, corporate hybrids, bank capital and structured notes.
Start with What makes a security a hybrid, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
Capital triggers · All lessons
Examine capital triggers, coupon cancellation, conversion and potential principal losses.
Intermediate
A numerical capital trigger and a supervisory intervention are different mechanisms. Both require careful reading because reported ratios do not capture every possible trigger event.
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