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Quotes of the day:
Stay beautiful stay off drugs -Johnny Wowk AKA Johnny The Walker
Contingent convertibles (CoCos) are a debt instrument issued by European financial institutions. Contingent convertibles work in a fashion similar to traditional convertible bonds. They have a specific strike price that once breached, can convert the bond into equity or stock. The primary investors for CoCos are individual investors in Europe and Asia and private banks.
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