Additional tier one: pricing in the dark

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Additional tier one: pricing in the dark

How much should you get paid to hold a deeply subordinated chunk of hybrid bank capital with idiosyncratic structural features from, sometimes, darkly storied credits?

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