Discussion of high yielding, low trigger CoCos issued by BBVA and Santander, focusing on yield to call instead of yield to maturity due to potential step up in coupon rates.
doj/DataSet10/EFTA01453171.pdf
{"key_people":["Tazia Smith"],"document_type":"correspondence","key_locations":["New York, NY"],"document_subtype":"memo","key_organizations":["BBVA","Santander","Deutsche Bank Securities, Inc.","Deutsche Asset & Wealth Management"]}