Barclays shines a light in Coco fog, but no wave of copycat deals in sight

Barclays set another point on the contingent capital curve this week, selling a $3bn tier two that carries permanent write-off risk. Despite the $17bn order book, bankers believe the asset class will remain in its infancy for some time — and not just because some real money accounts balked at the instrument’s high trigger. Katie Llanos-Small reports.