'To explain the deal, Berlin Hyp issued bonds that yield negative 0.162% and pay no coupon.
This means that if you buy €1,000 worth of bonds, you will receive €998.38 when they mature in three years.
Granted this is a fairly small loss, but it is still a loss. And a guaranteed one.
This is supposed to be an investment… an investment, by-the-way, with a bank that almost went under in the last financial crisis...'