Citi plays games with Thrones as AA tranche 20% covered

Citi priced Thrones 2014-1 on Thursday, despite the last book update at 1.30pm announcing the double A tranche being just 0.2 times done, and some of the others also uncovered at 0.9 times for the class A, 0.7 times on the class E, and 0.5 times on the class F. It did not give a further update on whether the deal was fully covered by investor demand, but priced the deal between 6pm and 8pm on Thursday evening.