Matt Levine's Money Stuff

[doughishere]

From this mornings Email:

 

The insurance feature of the bonds would be triggered if Credit Suisse’s annual operational risk-related losses cross $3.5 billion. Buyers have a level of comfort, however, because it’s a “second-event” bond. The most any single event could contribute to the trigger is $3 billion, meaning it would take more than one event to cross the threshold. The odds of that are remote: Credit Suisse has put them at roughly 1 in 500, the people said.

 

 

....its pretty good.

http://www.bloomberg.com/view/contributors/ARbTQlRLRjE/matthew-s-levine