Cap switch ?

[I am the Walrus]

Hello all. 
  In this scenario would the two capacitors involved retain their complete individual value regardless of the fact they are wired in series? Thanks for any info on this.

[antonis]

Of course..!!

Anytime one of them is shorted via SPDT switch the other one is in series with OUT..

[Mark Hammer]

Not only that, but it is probably the most noise-free way to change cap values.  Note that by NOT bridging either, you get the third series value of the two.  The only downside is that there is a little bit of math involved if there is some specific cap value one is aiming for.