Bond Factsheet
ANZNZ 5.898% 10Jul2034 Corp (USD)
ANZ Bank New Zealand Ltd
Indicative
Full Lot
Bid Price 100.063
Change in Bid Price 0.262
Bid Yield (%) 5.869 %
Change in Bid Yield 0.104
Ask Price 100.226
Change in Ask Price 0.261
Ask Yield (%) 5.804 %
Change in Ask Yield 0.104
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
ANZ Bank New Zealand Ltd
Guarantor
-
Announcement Date
02 Jul 2024
Issue Date
10 Jul 2024
Maturity Date
10 Jul 2034
Years to Maturity / Next Call
7.767 / 2.764
Modified Duration
6.047 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.898
Coupon Type
Variable
Annual Coupon Rate
5.898
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 10 Jul 2029
Reset Rate: 5Y UST + Spread (1.500%)
ISIN
USQ0426YAY97
CUSIP
YW1294704
Bond Currency
USD
Total Issue Size
500,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A+
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Australian Crisis Management
Under the Australian Banking Act, APRA has power to facilitate the orderly resolution of the entities it regulates, such as ANZBGL (and certain of their subsidiaries, such as ANZ Bank NZ, and holding companies), in times of distress. Powers which could impact the ANZ Bank NZ Group include oversight, management and directions powers in relation to ANZBGL and other ANZ Group entities (including ANZGHL) and statutory management powers over regulated entities within the ANZ Group (including ANZGHL) in Australia (but APRA may not appoint a statutory manager to ANZ Bank NZ or ANZNIL). The Australian Banking Act includes provisions that are designed to give statutory recognition to the conversion or write-off of regulatory capital instruments (the “Statutory Conversion and Write-Off Provisions”).
The Statutory Conversion and Write-Off Provisions apply in relation to regulatory capital instruments issued by certain financial sector entities (including ADIs and their subsidiaries, such as ANZ Bank NZ) that contain provisions for conversion or write-off for the purposes of APRA’s prudential standards. Where the Statutory Conversion and Write-Off Provisions apply to an instrument, that instrument may be converted in accordance with its terms. This is so despite any law (other than specified laws, currently those relating to the ability of a person to acquire interests in an Australian corporation or financial sector entity), the constitution of the issuer or the conversion entity for the instrument, any contract to which the issuer is a party or the conversion entity for the instrument, and any listing rules, operating rules or clearing and settlement rules applicable to the instrument. In addition, the Australian Banking Act includes a moratorium on the taking of certain actions, such as denying any obligation, accelerating any debt, closing out any transaction or enforcing any security, on grounds relating to the operation of the Statutory Conversion and Write-Off Provisions.
Issuer Call
Fixed Rate Reset Date: July 10, 2029
Additional Note
Subject to the conditions described in “Subordinated Notes―Redemption Conditions”, ANZ Bank NZ 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 any Subordinated Note that is a Floating Rate Notes) and on giving not more than 60 nor less than 10 days’ written notice to the Subordinated Noteholders of the relevant Tranche (which notice shall be irrevocable) redeem the Subordinated Notes of the relevant Tranche in whole, but not in part, at any time following the occurrence of a Subordinated Notes Regulatory Event (as defined below), at the principal amount thereof plus accrued and unpaid interest to but excluding the date fixed for redemption (unless the applicable Final Terms specifies another redemption price).
“Subordinated Notes Regulatory Event” means a determination by ANZ Bank NZ, in its absolute discretion, that, with respect to any Tranche of Subordinated Notes, there has been, or there will be, any amendment to, clarification of, change in or to, change in the interpretation, application or administration of, or imposition of: (i) any law, regulation or directive in New Zealand; (ii) any official administrative pronouncement or action or judicial decision interpreting or applying any law, regulation or directive in New Zealand; or (iii) any order, direction, standard, requirement (including any prudential regulation requirement), guideline or statement of the RBNZ (whether or not having the force of law), in each case that applies, or is to apply, after the issue date of such Subordinated Notes and, as a result, either: (A) ANZ Bank NZ is or will be adversely affected in relation to its regulatory capital treatment of such Subordinated Notes; or (B) ANZ Bank NZ is not or will not be entitled to treat some or all such Subordinated Notes as Tier 2 Capital, provided that such event is not minor and could not reasonably have been anticipated by ANZ Bank NZ at such issue date.
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