iBoxx EUR Contingent Convertible Liquid Developed Markets AT1 (8% Issuer Cap) Index

The iBoxx EUR Contingent Convertible Liquid Developed Markets AT1 (8% Issuer Cap) Index measures the performance of EUR-denominated contingent convertible debt issued by banks and insurance companies in developed markets, specifically Additional Tier 1 (AT1) bonds. Bonds must have a minimum amount outstanding of EUR 500 million at the bond level and EUR 1 billion equivalent in local currency at the issuer level. Bonds must have a minimum remaining time to maturity of at least one year at rebalancing for new insertions, with index constituents remaining until maturity or fully redeemed. Bonds must be rated by at least one rating agency, excluding those rated as defaulted or trading flat, excluding those rated as defaulted or trading flat, and an 8% issuer cap is applies. The index is limited to bonds issued after Jan. 1, 2013, that have been publicly placed, reflecting the regulatory framework for contingent convertible instruments introduced following the global financial crisis.