Hybrid Capital

03/04/2010 08:30 a.m. - 10:00 a.m.

Corporate Finance | Capital Markets, Federal Tax, Banking + Financial Services, Financial Institutions + Financial Services, and New Products

Morrison & Foerster LLP
1290 Avenue of the Americas, 39th Floor
New York, NY 10104

Seminar

Please join us at Morrison & Foerster, or by dial in, to discuss the market for hybrid securities.  During the financial crisis, hybrid securities were not as loss absorbing for their issuers as some expected.  A number of governments conditioned aid on deferring hybrid payments, in some cases resulting in losses for investors.  Now discussions are underway on changing regulation and harmonizing definitions of Tier 1 products.  Debate has also focused on contingent capital—the newest hybrid.    

The panel will discuss:

  • A review of hybrid securities (tax characteristics, legal form, ratings treatment);
  • An assessment of the hybrid market and performance of hybrids;
  • Tangible common equity and other measures;
  • Recent issuances of hybrid securities in the US and Europe;
  • Changes to the ratings framework;
  • Regulatory capital discussions in the US and in the EU; and
  • Contingent capital instruments.

Speakers include:
Thomas A. Humphreys, Partner, Morrison & Foerster LLP
Anna T. Pinedo, Partner, Morrison & Foerster LLP
Anthony Ragozino, Managing Director – Head of Capital Products, UBS Investment Bank

Thursday, March 4, 2010
8:30 AM - 10:00 AM
Morrison & Foerster LLP
1290 Avenue of the Americas, 39th Floor
New York, New York 10104

Breakfast will be served.

New York CLE credit is pending for this event.

This event is intended for investment professionals, tax advisors, and both newly admitted and experienced attorneys.

Please RSVP to Christie Adams by telephone (212) 336-4024 or by email to: cadams@mofo.com.   If you are interested in dialing in, please contact Christie Adams for more information.

Due to building security rules, you must RSVP by 5:00 PM on March 3rd to be added to the list.

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