# kaal:claim:1998455-023

**Claim.** Coupon rates between seven and nine and a half percent attracted sufficient investor interest in European contingent capital securities to establish what appears to be a sustainable market in those securities.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- European CCS issuances through 2011
- based on the Lloyds, Credit Suisse and Bank of Cyprus offerings and industry interviews

**Source quote.**

> CCS coupon rates between 7% and 9.5% attracted sufficient investor interest and seem to have established a sustainable market in these securities.

**From.** Wulf A. Kaal, *Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance* (2012), V. Evolving Market in Contingent Capital, page 35

**Cite as.** Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455

**Verify.** sha256 of source PDF `1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Initial%20Reflections%20on%20the%20Possible%20Application%20of%20Contingent%20Capital%20in%20Corporate%20Governance.pdf

**Topics.** economics, empirical-evidence

**Keywords.** ccs-market, coupon-rates, investor-demand, europe, empirical-evidence

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