Description
Type: String
Specifies which issue (underlying bond) will receive payment priority in the event of a default.
Used to define a CDS instrument.
Valid values:
- SD = Senior Secured
- SR = Senior
- SB = Subordinated
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JR = Junior
In the context of MiFID II this value is used as identified in RTS 23 Annex I Table 3 Field 23 "Seniority of the bond".
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MZ = Mezzanine
In the context of MiFID II this value is used as identified in RTS 23 Annex I Table 3 Field 23 "Seniority of the bond".
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SN = Senior Non-Preferred
For CDS reference obligations of non-preferred senior debt issued by European Financials that constitute a layer of debt ranking between the bank's normal senior debt but above the bank's normal tier 2 subordinated debt (reference: ISDA Credit Market Infrastructure Group).