Abstract: A sub-module for a modular multi-stage converter has an energy store and a power semiconductor series circuit connected in parallel to the energy store. In the semiconductor series circuit, two power semiconductor switches that can be activated and deactivated and have the same forward direction are connected in series. A free-wheeling diode is connected in parallel and in the opposite direction to each power semiconductor switch. A first connection terminal is connected to the energy store. A second connection terminal is connected to a potential point between the power semiconductor switches and to the free-wheeling diodes thereof. A bridging switch is disposed between the connection terminals for bridging the sub-module. The power semiconductors thereof are not destroyed upon closing the bridging switch and at least one connection terminal and/or a bridging branch that connects the two connection terminals to each other has an inductive component.