Bond Factsheet
ANZ 5.691% 14Aug2040 Corp (AUD)
Australia and New Zealand Banking Group Limited
Indicative
Full Lot
Bid Price 92.410
Change in Bid Price 0.633
Bid Yield (%) 6.730 %
Change in Bid Yield 0.076
Ask Price 92.744
Change in Ask Price 0.615
Ask Yield (%) 6.692 %
Change in Ask Yield 0.073
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Australia and New Zealand Banking Group Limited
Guarantor
-
Announcement Date
07 Aug 2025
Issue Date
14 Aug 2025
Maturity Date
14 Aug 2040
Years to Maturity / Next Call
13.867 / 8.862
Modified Duration
9.155 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.691
Coupon Type
Variable
Annual Coupon Rate
5.691
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 14 August 2035 and every quarter thereafter
Reset Rate: BBSW 3 Month + Initial Margin (1.680%)
ISIN
AU3CB0324762
CUSIP
YL0820859
Bond Currency
AUD
Total Issue Size
750,000,000
Min. Investment Quantity (Nominal)
AUD 1,000
Incremental Quantity (Nominal)
AUD 1,000
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
Others
Loss Absorption
The Subordinated Notes are subject to mandatory Conversion into ordinary shares of ANZGHL if a Non-Viability Trigger Event occurs. If Conversion has not been effected within five Business Days after the Non-Viability Trigger Event for any reason, the Subordinated Notes will be Written-Off in accordance with the conditions described in the Information Memorandum.
Non-Viability Trigger Event
A “Non-Viability Trigger Event” means the earlier of:
(a) the issuance to the Issuer of a written determination from APRA that conversion or write-off of Relevant Securities is necessary because, without it, APRA considers that the Issuer would become non-viable; or
(b) a determination by APRA, notified to the Issuer in writing, that without a public sector injection of capital, or equivalent support, the Issuer would become non-viable, each such determination being a “Non-Viability Determination”.
Issuer Call
The Optional Redemption Dates are:
(a) the Interest Payment Date scheduled to fall on 14 August 2035 (“First Optional Redemption Date ”); and
(b) every Interest Payment Date thereafter up to (but excluding) the Maturity Date.
Any early redemption of the Subordinated Notes is subject to the prior written approval of APRA. Subordinated Noteholders should not expect that APRA’s approval will be given for any redemption of Subordinated Notes.
Additional Note
If specified in the relevant Pricing Supplement, if a Regulatory Event occurs, the Issuer may at its option, at any time (if the Subordinated Note is not a Floating Rate Note) or on any Interest Payment Date (in the case of a Subordinated Note that is a Floating Rate Note) and subject to Condition 6.9 on giving not more than 60 nor less than 30 days’ notice to the Subordinated Noteholders of the relevant Series (which notice shall be irrevocable) redeem all, but not some only, of the Subordinated Notes of the relevant Series at their Early Redemption Amount together with interest accrued to the date fixed for redemption. Prior to the publication of any notice of redemption pursuant to this Condition 6.3, the Issuer shall deliver to the Registrar a certificate signed by two persons each of whom is either a Director, a senior executive or an authorised representative (or equivalent status) of the Issuer stating that the Issuer is entitled to effect such redemption and setting forth a statement of the facts showing that the conditions precedent to the right of the Issuer so to redeem have occurred.
For the purposes of this Condition, “Regulatory Event” means the receipt by the directors of the Issuer of:
(a) an opinion from a reputable legal counsel that as a result of any amendment to, clarification of or change (including any announcement of a change that has been or will be introduced) in, any law or regulation of Australia, or any official administrative pronouncement or action or judicial decision interpreting or applying such laws or regulations, which amendment, clarification or change is effective, or pronouncement, action or decision is announced, after the Issue Date; or
(b) an official written statement from APRA,
that, in each case, the Issuer is not or will not be entitled to treat all Subordinated Notes of a Series as Tier 2 Capital, provided that, in each case, on the Issue Date of the Subordinated Notes, the Issuer did not expect that matters giving rise to the Regulatory Event would occur.
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