Law stated as at 01 Feb 2012 • Switzerland |
Name of instrument and date | Loss absorbency features |
Credit Suisse Tier Two Buffer Capital Notes (2011/2012) | Conversion into ordinary shares both:
|
EFG International AG Tier Two Notes (2011) | 100% principal write-off upon non-viability. |
UBS Tier Two Subordinated Notes (2012) | 100% principal-write off both:
|
Zurich Cantonal Bank Tier One Bonds (2012) | Write-downs of 25% of the original notional amount or multiples thereof (as determined by Regulator) both:
Notional amount cannot be lower than CHF1 (as at 1 February, US$1 was about CHF0.92). |
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