Credit Suisse’s Riskiest Bonds Jump Amid Optimism Over UBS Talks

From bnnbloomberg.ca

Credit Suisse Group AG’s riskiest bonds pared their advance on Sunday on concern that Swiss authorities may need to nationalize the bank if a deal with UBS Group AG falls through. If that happens, the bonds will likely be wiped-out as part of the rescue plan. Bonds including the riskiest portion of the capital stack, Additional Tier 1 notes, were quoted at prices ranging from the high 30s to mid-50 cents on the dollar, a drop of about 20 cents from roughly an hour earlier, according to people with knowledge of the matter, asking not to be named because price quotes in the over-the-counter market are private. ... (full story)