Looks like the bonds were contingent convertbiles and designed to get wiped out in the case the bank is short of capital: https://www.washingtonpost.com/busines

Looks like the bonds were contingent convertbiles and designed to get wiped out in the case the bank is short of capital: https://www.washingtonpost.com/business/2023/03/19/why-credit-suisse-coco-bonds-are-causing-anxiety-quicktake/945ef2fe-c69c-11ed-9cc5-a58a4f6d84cd_story.html https://www.washingtonpost.com/business/2023/03/19/why-credi...