# kaal:claim:2097160-009

**Claim.** Barclays's Contingent Capital Plan uses synthetic CoCos that simply lapse when the Group Core Tier 1 capital ratio falls below seven percent, rather than converting into equity.

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

**Holds when.**

- Barclays Contingent Capital Plan as of the 2010 annual report

**Source quote.**

> Under Barclays's CCP, its "synthetic CoCos" simply lapse when the capital ratio falls below 7%.135

**From.** Wulf A. Kaal, *Contingent Capital in Executive Compensation* (2012), V.A Precedent Barclays, page 31

**Cite as.** Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160

**Verify.** sha256 of source PDF `1e1f8aa246bce19f4658dbceb455c7c2a272aa5d63a9e9bdaa46a3a5a87680fc` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Contingent%20Capital%20in%20Executive%20Compensation.pdf

**Topics.** contingent-capital, corporate-governance

**Keywords.** barclays, coco, capital-ratio, executive-compensation

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