Funds Focus

CBA has just announced the launch of a new income offer:  CommBank PERLS 11 Capital Notes (Notes). The first round of access is through a broker firm allocation, prior to a shareholder offer and listing in December.

Note: There is no General Offer of these securities.

The Notes will pay a quarterly coupon of 3.7%-3.9% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 1.93% as of 2nd November, with an initial indicative rate of 5.63%-5.83%pa. The

NAB has just announced the launch of a new income offer, NAB Subordinated Notes 2, with the primary purpose of repaying NAB Subordinated Notes (NABHB), which are due to mature this year.

The Notes will pay a quarterly coupon of 2.2%-2.3% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.77% at 10 February 2017. The initial indicative rate will be 3.97%-4.07%pa with the rate set on the date of issue. The Notes are expected to redeem on 20 September

NAB has just announced the launch of a new income offer: NAB Capital Notes. The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in July.

The Notes will pay a quarterly coupon of 4.95%-5.1% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.99% as of 31st May. The initial indicative rate will be 6.94%-7.09%pa with the rate to be set on the date of issue. The Notes are expected to redeem on