convertible instrument
256(in SYSC 19G) an instrument the terms of which require the principal amount of that instrument to be converted into an instrument that qualifies as common equity tier 1 capital if a trigger event occurs.
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Timeline guidance256(in SYSC 19G) an instrument the terms of which require the principal amount of that instrument to be converted into an instrument that qualifies as common equity tier 1 capital if a trigger event occurs.