Commonwealth Bank of Australia
Indicative
Full Lot
Indicative price as of 06 Oct 2026, 4:04pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Commonwealth Bank of Australia
Guarantor
-
Announcement Date
03 Jun 2025
Issue Date
12 Jun 2025
Maturity Date
12 Sep 2035
Years to Maturity / Next Call
8.937 / 3.935
Modified Duration
6.917 @ 06 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.252
Coupon Type
Variable
Annual Coupon Rate
5.252
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 12 Sep 2030 and every quarter thereafter.
Reset Rate: 3 Months BBSW + Initial Margin (1.700%)
ISIN
AU3CB0322600
CUSIP
YN0518905
Bond Currency
AUD
Total Issue Size
400,000,000
Min. Investment Quantity (Nominal)
AUD 10,000
Incremental Quantity (Nominal)
AUD 10,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ AA
Bond Credit Rating (S&P/ Fitch)
***/ A
Shariah Compliant
No
Exchange Listed
No
A Non-Viability Trigger Event occurs when APRA notifies the Issuer in writing that it believes:
(i) an Exchange or, if the Subordinated Pricing Supplement specifies, Write Down of all or some Subordinated Securities, or conversion or write down of capital instruments of the CBA Group, is necessary because, without it, the Issuer would become non-viable; or
(ii) a public sector injection of capital, or equivalent support, is necessary because, without it, the Issuer would become non-viable.
APRA may specify an aggregate face value of capital instruments which must be Exchanged, Written Down, converted or written down (as applicable).
Exchange Following a Non-Viability Trigger Event:
The primary method of loss absorption is Exchange. If, for any reason, Exchange of any Subordinated Security (or a percentage of the Outstanding Principal Amount of any Subordinated Security) required to be Exchanged fails to take effect and the Issuer has not otherwise issued the Ordinary Shares required to be issued in respect of such Exchange within five Business Days after the date of the occurrence of the Non-Viability Trigger Event, or if the Subordinated Pricing Supplement specifies “Write Down”, then the relevant Subordinated Holder’s rights (including to payment of the Outstanding Principal Amount and Interest and any right to receive Ordinary Shares) in relation to such Subordinated Securities or percentage of the Outstanding Principal Amount of the Subordinated Securities are immediately and irrevocably terminated (Written Down) and such termination will be taken to have occurred immediately on the date of the occurrence of the Non-Viability Trigger Event..
Non-Viability Trigger Event
(i) an Exchange or, if the Subordinated Pricing Supplement specifies, Write Down of all or some Subordinated Securities, or conversion or write down of capital instruments of the CBA Group, is necessary because, without it, the Issuer would become non-viable; or
(ii) a public sector injection of capital, or equivalent support, is necessary because, without it, the Issuer would become non-viable. APRA may specify an aggregate face value of capital instruments which must be Exchanged, Written Down, converted or written down (as applicable).
Subordinated Holders should not expect that APRA’s approval will be given for any Redemption of the Subordinated Securities.
Subject to APRA’s approval, the Issuer may redeem the Subordinated Securities before the Maturity Date for certain tax and regulatory reasons. Subordinated Holders should not expect APRA’s approval will be given for any Redemption of Subordinated Securities. Subordinated Holders have no right to request redemption before the Maturity Date.
Cash Flow Information