LEADER 05827nam 22007933u 450 001 9910132494503321 005 20240516184349.0 010 $a9781118450000 010 $a1118450000 010 $a9781118862650 010 $a1118862651 035 $a(CKB)3580000000001282 035 $a(EBL)947724 035 $a(SSID)ssj0001222349 035 $a(PQKBManifestationID)11707143 035 $a(PQKBTitleCode)TC0001222349 035 $a(PQKBWorkID)11201194 035 $a(PQKB)10088884 035 $a(MiAaPQ)EBC947724 035 $a(FR-PaCSA)88826886 035 $a(FRCYB88826886)88826886 035 $a(Perlego)2784219 035 $a(EXLCZ)993580000000001282 100 $a20140818d2014|||| u|| | 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Handbook of Hybrid Securities $eConvertible Bonds, CoCo Bonds and Bail-In 205 $a1st ed. 210 $aHoboken $cWiley$d2014 215 $a1 online resource (410 p.) 225 1 $aThe Wiley Finance Series 300 $aDescription based upon print version of record. 311 08$a9781322044743 311 08$a1322044740 311 08$a9781118449998 311 08$a1118449991 327 $aThe Handbook of Hybrid Securities; Contents; Reading this Book; Acknowledgments; 1 Hybrid Assets; 1.1 Introduction; 1.2 Hybrid Capital; 1.3 Preferreds; 1.4 Convertible Bonds; 1.5 Contingent Convertibles; 1.6 Other Types of Hybrid Debt; 1.6.1 Hybrid Bank Capital; 1.6.2 Hybrid Corporate Capital; 1.6.3 Toggle Bonds; 1.7 Regulation; 1.7.1 Making Failures Less Likely; 1.7.2 Making Failures Less Disruptive; 1.8 Bail-In Capital; 1.9 Risk and Rating; 1.9.1 Risk; 1.9.2 Rating; 1.10 Conclusion; 2 Convertible Bonds; 2.1 Introduction; 2.2 Anatomy of a Convertible Bond; 2.2.1 Final Payoff 327 $a2.2.2 Price Graph 2.2.3 Quotation of a Convertible Bond; 2.2.4 Bond Floor (BF); 2.2.5 Parity; 2.2.6 Convexity; 2.2.7 Optional Conversion; 2.2.8 Forced Conversion; 2.2.9 Mandatory Conversion; 2.3 Convertible Bond Arbitrage; 2.3.1 Components of Risk; 2.3.2 Delta; 2.3.3 Delta Hedging; 2.3.4 Different Notions of Delta; 2.3.5 Greeks; 2.4 Standard Features; 2.4.1 Issuer Call; 2.4.2 Put; 2.4.3 Coupons; 2.4.4 Dividends; 2.5 Additional Features; 2.5.1 Dividend Protection; 2.5.2 Take-Over Protection; 2.5.3 Refixes; 2.6 Other Convertible Bond Types; 2.6.1 Exchangeables; 2.6.2 Synthetic Convertibles 327 $a2.6.3 Cross-Currency Convertibles 2.6.4 Reverse Convertibles; 2.6.5 Convertible Preferreds; 2.6.6 Make-Whole; 2.6.7 Contingent Conversion; 2.6.8 Convertible Bond Option; 2.7 Convertible Bond Terminology; 2.7.1 144A; 2.7.2 Fixed-Income Metrics; 2.8 Convertible Bond Market; 2.8.1 Market Participants; 2.8.2 Investors; 2.9 Conclusion; 3 Contingent Convertibles (CoCos); 3.1 Introduction; 3.2 Definition; 3.3 Anatomy; 3.3.1 Loss-Absorption Mechanism; 3.3.2 Trigger; 3.3.3 Host Instrument; 3.4 CoCos and Convertible Bonds; 3.4.1 Forced vs. Optional Conversion; 3.4.2 Negative vs. Positive Convexity 327 $a3.4.3 Limited vs. Unlimited Upside 3.4.4 Similarity to Reverse Convertibles; 3.5 CoCos and Regulations; 3.5.1 Introduction; 3.5.2 Basel Framework; 3.5.3 Basel I; 3.5.4 Basel II; 3.5.5 Basel III; 3.5.6 CoCos in Basel III; 3.5.7 High and Low-Trigger CoCos; 3.6 Ranking in the Balance Sheet; 3.7 Alternative Structures; 3.8 Contingent Capital: Pro and Contra; 3.8.1 Advantages; 3.8.2 Disadvantages; 3.8.3 Conclusion; 4 Corporate Hybrids; 4.1 Introduction; 4.2 Issuer of Hybrid Debt; 4.3 Investing in Hybrid Debt; 4.4 Structure of a Corporate Hybrid Bond; 4.4.1 Coupons 327 $a4.4.2 Replacement Capital Covenant 4.4.3 Issuer Calls; 4.5 View of Rating Agencies; 4.6 Risk in Hybrid Bonds; 4.6.1 Subordination Risk; 4.6.2 Deferral Risk; 4.6.3 Extension Risk; 4.7 Convexity in Hybrid Bonds; 4.7.1 Case Study: Henkel 5.375% 2104; 4.7.2 Duration Dynamics; 4.8 Equity Character of Hybrid Bonds; 5 Bail-In Bonds; 5.1 Introduction; 5.2 Definition; 5.3 Resolution Regime; 5.3.1 Resolution Tools; 5.3.2 Timetable; 5.4 Case Studies; 5.4.1 Bail-In of Senior Bonds; 5.4.2 Saving Lehman Brothers; 5.5 Consequences of Bail-In; 5.5.1 Higher Funding Costs; 5.5.2 Higher GDP 327 $a5.5.3 Availability of Bail-In Bonds 330 $aIntroducing a revolutionary new quantitative approach to hybrid securities valuation and risk management To an equity trader they are shares. For the trader at the fixed income desk, they are bonds (after all, they pay coupons, so what''s the problem?). They are hybrid securities. Neither equity nor debt, they possess characteristics of both, and carry unique risks that cannot be ignored, but are often woefully misunderstood. The first and only book of its kind, The Handbook of Hybrid Securities dispels the many myths and misconceptions about hybrid securities and arms you with a quantitative, 410 0$aWiley finance series. 606 $aBusiness 606 $aConvertible bonds -- Handbooks, manuals, etc 606 $aConvertible securities -- Handbooks, manuals, etc 606 $aConvertible securities$vHandbooks, manuals, etc 606 $aConvertible bonds$vHandbooks, manuals, etc 615 4$aBusiness. 615 4$aConvertible bonds -- Handbooks, manuals, etc. 615 4$aConvertible securities -- Handbooks, manuals, etc. 615 0$aConvertible securities 615 0$aConvertible bonds 676 $a332.632044 686 $aBUS027000$2bisacsh 700 $aSpiegeleer$b Jan de$01839157 701 $aSchoutens$b Wim$0536902 701 $aHulle$b Cynthia van$01865469 801 0$bAU-PeEL 801 1$bAU-PeEL 801 2$bAU-PeEL 906 $aBOOK 912 $a9910132494503321 996 $aThe Handbook of Hybrid Securities$94472580 997 $aUNINA