The UBS takeover of Credit Suisse includes wiping out $17 billion bonds. "17" strikes again! - The Great Awakening

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The UBS takeover of Credit Suisse includes wiping out $17 billion bonds. "17" strikes again! (www.washingtonpost.com)

posted 1 year ago by bubble_bursts 1 year ago by bubble_bursts +160 / -1

Analysis | Why $17 Billion in Credit Suisse ‘CoCos’ or AT1s Got Wiped Out in UBS Takeover

They’re called contingent convertible bonds, or CoCos — and are often described as high-yield investments with a hand grenade attached. The takeover of Credit Suisse by UBS Group AG included pulling the pin on $17 billion of CoCos, which are also known as ...

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– Quato 2 points 1 year ago +2 / -0

https://twitter.com/SouthlandPost/status/1637906863495757826

Lot's of "6's" too.

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