FOLITIC / HYBRID SECURITIES

Hybrid Securities Trading Guide

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.

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Perpetual terms · All lessons

Corporate Hybrids and Capital Structure

Read subordination, payment deferral, extension and issuer funding incentives.

Intermediate

Perpetual securities and the difference between a call and maturity

A perpetual has no ordinary contractual maturity. Its first call date is an issuer option, so a portfolio should remain workable if the security stays outstanding.

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