Much of the financial world has been watching Credit Suisse Group AG closely as it flirted with disaster, but few have done so with more worry than the holders of its contingent convertible bonds, also known as CoCos. Sometimes described as high-yield investments with a hand grenade attached, CoCos are the lowest rung of bank debt. That means that while they produce juicy…

This story appeared on, 2023-03-18.
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