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Term Sheet

   
23/03/2019 09:15p.m.
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Cash Management Trust Account
Issuer ASB Bank
Business of the Issuer ASB Bank Limited is a commercial bank operating in New Zealand
Instrument Subordinated Unsecured Debt Obligations of ASB Bank
NZDX Code ABB050
Ranking Subordinated Unsecured Debt
Maturity Date 15 December 2026
Coupon Rate 5.25%
Credit Rating BBB+
Reset Date 15 December 2021
Maturity Mechanism The notes have a maturity date of 15 December 2026. However, the notes could be repaid early following a Regulatory or Tax event and on the reset date, 15 December 2021, or on any quarterly interest payment date thereafter subject to regulatory consent.
Payment Frequency Quarterly
Coupon Payments Interest paid quarterly in arrears on 15 March, June, September and December.
Minimum Holding 5,000
Minimum Parcel Size 1,000
Registry Computershare Investor Services

First NZ Capital Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. We have compiled this fixed interest term sheet (“Term Sheet”) for your information purposes only. We have provided this Term Sheet to you in good faith and have prepared it using our own views, external sources, material, systems and other information that we believe to be accurate, complete and reliable at the time of preparation, but the accuracy, correctness and completeness cannot be guaranteed. We make no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information contained within this Term Sheet, and nothing shall be deemed to constitute any representation or warranty. To the fullest extent permitted by law, we shall not be liable or responsible for any error or omission.

This Term Sheet is not to be relied upon as a basis for making any investment decision. This Term Sheet does not take into account your particular financial situation or goals, and does not, therefore, constitute personalised financial advice under the Financial Advisers Act 2008, nor does it constitute advice of a legal, tax, accounting or other nature. Please consult your adviser in relation to any investment decision. To the fullest extent permitted by law, we shall not be liable for any decision made or action taken by you or a third party based on, or in reliance on, any information contained in this Commentary.

We and our related and associated companies, directors, employees may have an interest in the bonds mentioned in this Term Sheet, including but not limited to financial. We are an NZX Firm. A disclosure statement is available on request.

Read full disclaimer https://www.fnzc.co.nz/disclaimer/