Eureka Correspondence

Valuing hybrids, clarifying share recommendations, FoFA's failures and total returns to investors from 2013-14.

Can anybody on your team tell me what might happen to hybrid securities like those issued by the big four banks if there were a market reassessment with the All Ords positioning itself at 5000 points? Obviously the equity itself is reduced by say 10%, but what happens to the value of the hybrid?

John Bone

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