Announcement

OFFER: BNZ: BNZ fixed rate notes offer: bookbuild update 11:13a.m. 
BNZ  
24/01/2020 11:13  
OFFER  
NOT PRICE SENSITIVE  
REL: 1113 HRS Bank of New Zealand  
 
OFFER: BNZ: BNZ fixed rate notes offer: bookbuild update  
 
Exchange announcement  
 
24 January 2020  
 
BNZ fixed rate notes offer: bookbuild update  
 
On 21 January 2020, Bank of New Zealand (BNZ) announced that it is offering  
up to NZ$100 million of a new series of unsecured unsubordinated fixed rate  
notes with a maturity date of 29 January 2025 to New Zealand retail investors  
and to certain institutional investors, with the ability to accept unlimited  
oversubscriptions at its discretion.  
 
More information on the offer is contained in the Terms Sheet which was  
attached to the launch announcement on 21 January 2020.  
 
The bookbuild process is underway. The indicative margin set out in the  
launch announcement and in the Terms Sheet was 0.80-0.85% per annum. Based  
on investor interest, the indicative margin is revised to 0.83% per annum.  
The margin will be announced by BNZ shortly after the completion of the  
bookbuild process.  
 
Bids are due by 2pm NZT, today (24 January 2020).  
 
Ends  
 
For further information, please contact:  
 
Neil Bradley, Treasurer, BNZ  
T. 09-976-5020, E. neil_bradley@bnz.co.nz  
End CA:00347544 For:BNZ Type:OFFER Time:2020-01-24 11:13:14  

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