Please find information for the CBA PERLS V offering below.  Funds will be required by 28th September under a broker firm offer.

However, investors looking for a firm allocation will need to apply through Wealth Focus by close of business Thursday 3rd September. Applications received after this closing date are likely to be scaled back substantially in what is expected to be a heavily oversubscribed offer.

2.5% premium to the issue price
An analysis based on other hybrids in the market last week showed that ANZPB was currently trading at a spread of 285bps (with a similar maturity profile and same S&P credit rating of A+). We feel that the market can realistically value PERLS V  at $205, a 2.5% premium to the issue price. In addition to this Perls V shareholders receive a 1% discount to the CBA share price on conversion.

• Download a prospectus
• Download an information pack

Alternatively, call us on 1300 559 869 to secure your allocation.

• Broker firm offer - Our ability to offer clients access through our broker firm offer means investors have a much greater chance of achieving their desired allocation than investing through the general offer


• Limited Offer – The offer is to raise approximately $900m, with the ability to raise more or less. the shares will be traded on the ASX and have an initial conversion date of 15th October 2014


• Income - PERLS V entitles holders to quarterly distributions, expected to be fully franked


• High level of income - The distribution rate is 3.40% over the 90 day Bank Bill Swap Rate (3.46% as of 2nd September) for a current rate of 6.86%


• Highly rated - A+ S&P rating expected upon listing


• Minimum investment - $5,000


• Issue Price - $200

• Prospectus
• Information pack