Deals of the Year 2012: Barclays CoCo

Barclays
Size	$3 billion of 10-year contingent capital notes
Date	November 2012
Global coordinating bookrunner and structuring adviser	Barclays
Bookrunners	Citi, Credit Suisse, Deutsche Bank and Morgan Stanley
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Science fiction has no place in the real world of bank capital, but when one bank goes boldly beyond where any other bank has gone before with a CoCo under CRD IV, there is perhaps something of a whiff of the future about it.

For Barclays, the bank that boldly broke new ground for the banking sector, the remarkable success of its $3 billion contingent capital notes (CoCo) sale in November last year was very real indeed.