Issue 16

Indicative market yield (% pa) N/A
Indicative market price (%) 100.50

Issuer ASB Capital
Amount on issue (NZ$m) 149.0
Issuer type Financial institution
Description Redeemable Preference Share
Security ranking Subordinated
Assumed maturity date 15 Nov 2018
Legal maturity date Perpetual
Credit rating BBB
Current coupon 3.42
Coupon type Reset Quarterly
Next coupon reset date 15 Nov 2018
Coupon reset at 1 yr swap plus 1.30
Election/Conversion date N/A
First & future call dates Continuous
Margin reset date N/A
Margin reset N/A
NZX Code ASBPA
Holdings - minimum/increments ($) 5,000/1
Issue documentation Click here

Notes

The perpetual preference shares have no fixed term and are not repayable or redeemable by the issuer. They may however be purchased by the Commonwealth Bank at its discretion.

The dividends may consist of a combination of cash payments and imputation credits. If not fully imputed, the cash dividend rate will be adjusted so that the value of the cash dividned and imputation credits equals the dividend (coupon) rate.

For further details refer to the investment statement.

The information contained on this page details certain terms of the bonds extracted from sources that interest.co.nz believes to be accurate and reliable. interest.co.nz accepts no liability for any omissions or errors contained in this information. Any prices and/or yields displayed are indicative only and are subject to change. The information contained on this page must not be construed as a recommendation or advice by interest.co.nz to buy, sell, hold or otherwise deal in the bonds.