Contingent Convertibles - CoCos - A security similar to a traditional convertible bond in that there is a strike price (the cost of the stock when the bond converts into stock). What differs is that there is another price, even higher than the strike price, that the company"s stock price must reach before an investor has the right to make that conversion (known as the "upside contingency").
Contingent Convertibles - CoCos : a security similar to a traditional convertible bond in that there is a strike price (the cost of the stock when the bond converts into stock). what differs is that there is another price, even higher than the strike price, that the company"s stock price must reach before an investor has the right to make that conversion (known as the "upside contingency").
Contingent Convertibles - CoCos