Hybrid Securities

  • Level: Beginner
  • Duration: 2.3 hours  
  • Access: 1 Year
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Learn to identify the purpose of debt/equity hybrid securities, including contingent convertibles, and how their development was influenced by regulatory capital requirements. 

  • This course is only suitable for desktop use.

Course Outline

This course focuses on convertible structures, which are hybrid securities that typically pay a fixed coupon but can also be converted into the common stock of the issuer.

What You Will Learn

Topic 1: Convertibles - An Introduction

  • Overview of Convertibles
  • Features of Convertibles
  • Mathematics of Convertibles

Topic 2: Convertibles - Valuation

  • Pricing Factors
  • Bounds to Convertible Value
  • Valuing the Embedded Call Option
  • Other Convertible Pricing Options

Topic 3:  Contingent Convertibles (CoCos)

  • Overview of CoCos
  • CoCo Structures
  • Regulatory Issues
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regular review questions. 
  End each tutorial with a short, graded test designed to enhance knowledge retention.
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