Course CFA/EFPA - CREDIT LINKED CERTIFICATES

#7 ONLINE COURSE  - Credit Linked Certificates    --- REGISTER
Accredited for maintaining EFPA certification (2 hours/credits) levels  EFA, EFP, EIP e ESG Advisor, EIS, PPF, PPS, PMK, EPS, EAI 
Accredited CFA Society Italy* for 2 credits
Teachers: Pierpaolo Scandurra and Giovanna Zanotti

Credit Linked Certificates (CLC) are a particular type of Certificates: they combine the issuer’s credit risk with that of another corporate or financial company or a government issuer (called a Reference Entity). Credit events can be, in addition to default/bankruptcy, also the non-payment of one or more debt positions with seniority equal or higher than that subject to the Credit Linked Certificate, restructuring of the debt position with seniority equal to that subject of the Credit Linked Certificate, government intervention for only European financial companies.

It follows that the proceeds from the CLC are higher than the coupons of an obligation of equal seniority issued by the issuer of the CLC, as the credit risk of the Reference Entity is added to the risk of the latter.

  • Issuer and underlying risk
  • Credit linked certificates
  • Credit events and the consequences on certificates
*CFA Society Italy has determined that this program qualifies for PL credit hour(s) under the guidelines of the CFA Institute Professional Learning program. If you are a CFA Institute member, you can self report PL credit(s) for your participation accessing the PL tracking tool through your account on the CFA Institute website. One credit hour is equal to one hour (60 minutes) of educational activity.