The memo discusses investment opportunities in European Bank AT1 Hybrid Bonds, specifically focusing on the Nationwide (UK Building Society) 6.875% perpetual bond. It highlights the bond's yield, potential call, and credit ratings compared to a similar BBVA bond. The memo suggests scaling into the bond at specific yields and mentions transaction costs.
doj/DataSet10/EFTA01453742.pdf
{"key_people":["Nam Gupta"],"document_type":"correspondence","key_locations":["London, United Kingdom"],"document_subtype":"memo","key_organizations":["Deutsche Bank AG","Nationwide (UK Building Society)","BBVA"],"reference_numbers":["ISIN XS1043181269"]}