Which of the following statements concerning PERLS X capital notes is NOT correct? a. A trigger event can happen before the call date.
b. Trigger events can be initiated before the mandatory exchange date.
c. The RBA cannot initiate a trigger event.
d. A capital trigger can be pulled if the issuing bank has insufficient regulatory capital.
e. Trigger events are subject to exchange conditions before the conversion can happen.

The incorrect statement concerning PERLS X capital notes is:

c. The RBA cannot initiate a trigger event.

Explanation:

As the regulator of banks in Australia, the RBA (Reserve Bank of Australia) has an obligation to initiate a trigger event when it considers that capital trigger should be initiated as part of its activities in regulating banks' regulatory capital.  A capital trigger is an event when there is an exchange of equity to cash from an investor or group of investors.  It can also happen if a hybrid capital is to be liquidated.

answer; (c) run the name by everyone you can;