Like a cross between bonds and stocks, Contingent Convertible | Bondsupermart

Like a cross between bonds and stocks, Contingent Convertible (CoCo) bonds are commonly issued by banks to bolster capital.

Taking the form of AT1s and Tier 2s, they're pretty common, and usually offer higher returns - but might get converted to equity or written off when triggered: https://bit.ly/3QfXzan