Additional Tier 1 instruments must be directly issued and fully paid, not owned or funded by the institution or entities it controls, subordinated to Tier 2, unsecured and unguaranteed by group entities, perpetual without incentives to redeem, callable only at the issuer's option, not before five years and only with Article 77 permission, with no indication that the authority would consent to a call. Distributions must be fully discretionary, non-cumulative and paid only out of distributable items, and cancellation must not restrict the institution. The terms must require write-down or conversion into Common Equity Tier 1 when the Common Equity Tier 1 ratio falls below 5.125 % (or a higher level set in the terms), with the write-down reducing the insolvency claim, the call amount and distributions. Deductions mirror those for Common Equity Tier 1 at the Additional Tier 1 level.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.