A switched-mode AC-DC converter intended to deliver a DC output voltage Vout between a first output terminal and a second output terminal, the converter comprising at least one conversion chain intended to convert an AC input voltage applied between an input terminal and a neutral point, the conversion chain comprising: a first output capacitor comprising one terminal connected to the first output terminal and another terminal connected to a second terminal of the input switch, a second output capacitor with the same capacitance as the first output capacitor and with a higher capacitance than the capacitance of the link capacitor, the second output capacitor comprising one terminal connected to the second output terminal and another terminal connected to the second terminal of the input switch.