Table A1.

Summary statistics of CoCos (and their contract design) issued in Europe during 2011–2018

VariableObsMeanSDMinMax
Panel A: All CoCos
Amount issued(Million$)158862.462905.6031.0634,742.844
Trigger level1570.0580.0090.0510.08
Coupon%1306.3521.8021.711.875
Panel B: Only write-down – CoCos
Amount issued(Million$)111671.459765.8771.0634,742.844
Trigger level1120.0560.0080.0510.08
Coupon%856.0851.7651.79.5
Panel C: Only conversion-to-equity CoCos
Amount issued(Million$)451,331.8531,052.82460.4974000
Trigger level450.0630.0090.0510.07
Coupon%446.8881.791211.875
Panel D: Only higher-trigger CoCos above 5.125%
Amount issued(Million$)581,207.3131,007.32351.394,000
Trigger level580.070.0010.070.08
Coupon%566.5221.9771.711.875
Panel E: Only CoCos with a trigger level equal to 5.125%
Amount issued(Million$)98657.563775.9811.0634,742.844
Trigger level990.05100.0510.051
Coupon%736.2341.67210.75

Notes:

This table provides the summary statistics of the CoCos issued in Europe. Panel A lists the summary statistics of all the CoCos issued. Panel B provides the summary statistics of only write-down – CoCos, Panel C refers only to conversion-to-equity CoCos, Panel D provides information on CoCo issues with high-trigger level and Panel E covers CoCo issues with trigger level equal to5.125%

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