Bond Factsheet
ANZ 5.204% 30Sep2035 Corp (USD)
Australia and New Zealand Banking Group Limited
Indicative
Full Lot
Bid Price 92.922
Change in Bid Price 0.135
Bid Yield (%) 6.309 %
Change in Bid Yield 0.023
Ask Price 93.217
Change in Ask Price 0.129
Ask Yield (%) 6.264 %
Change in Ask Yield 0.022
Indicative price as of 05 Oct 2026, 4:00pm
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
23 Sep 2024
Issue Date
30 Sep 2024
Maturity Date
30 Sep 2035
Years to Maturity / Next Call
8.990 / 7.990
Modified Duration
6.988 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.204
Coupon Type
Variable
Annual Coupon Rate
5.204
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 30 September 2034
Reset Rate: 1 year US Treasury Yield + Margin (1.470%)
ISIN
USQ0954PVQ28
CUSIP
YV9865408
Bond Currency
USD
Total Issue Size
1,250,000,000
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)
***/ AA-
Bond Credit Rating (S&P/ Fitch)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Conversion Option:
(a) If a Non-Viability Trigger Event occurs:
(i) on the Trigger Event Date, subject only to Section (e) , such principal amount of the Subordinated Notes will immediately Convert as is required by the Non-Viability Determination provided that:
(A) where the Non-Viability Trigger Event occurs under limb (a) of the definition and such Non-Viability Determination does not require all Relevant Securities to be converted into Ordinary Shares or written-off, such principal amount of the Subordinated Notes shall Convert as is sufficient (determined by ANZBGL in accordance with subsection (a)(ii) below) to satisfy APRA that ANZBGL is viable without further conversion or write-off; and
(B) where the Non-Viability Trigger Event occurs under limb (b) of the definition, all the principal amount of the Subordinated Notes will immediately Convert;
Please refer to the Offering Memorandum in the section entitled “Description of the Notes—Conversion or Write-off of Subordinated Notes on Non-Viability of ANZBGL—Conversion Option”.
A “Non-Viability Trigger Event” means the earlier of:
(a) the issuance to ANZBGL of a written determination from APRA that conversion or write-off of Relevant Securities is necessary because, without it, APRA considers that ANZBGL would become non-viable; or
(b) a determination by APRA, notified to ANZBGL in writing, that without a public sector injection of capital, or equivalent support, ANZBGL would become non-viable,
each such determination being a “Non-Viability Determination”.
Issuer Call
The Issuer may redeem, in whole but not in part, the Subordinated Notes then outstanding on the Interest Reset Date at the Redemption Price. Any early redemption will be subject to the prior written approval of APRA (as defined in the Offering Memorandum). Holders should not expect that APRA’s approval will be given for any redemption of Subordinated Notes. Any redemption of the Subordinated Notes will be pursuant to the terms of the Subordinated Notes pertaining to redemption, as described in the section of the Offering Memorandum entitled “Description of the Notes—Redemption and repayment”.
Redemption Price:
100.000% of the outstanding Principal Amount including accrued but unpaid interest to, but excluding, the date of redemption.
Optional Redemption Date: 30 September 2034.
Additional Note
In the case of Subordinated Notes, unless otherwise specified in the relevant Pricing Supplement, and subject to the prior written approval of APRA, Subordinated Notes may be redeemed at the option of the Issuer, at a redemption price equal to 100% of the principal amount thereof (or, where prior to such redemption, such Subordinated Note has been Written-Off or Converted only in part, at a redemption price equal to 100% of the principal amount of that Subordinated Note as reduced on the date of the Write-Off or Conversion) plus accrued and unpaid interest, if a Regulatory Event occurs, as further described under “Description of the Notes–Redemption of Subordinated Notes”. Subordinated Notes may not be redeemed for regulatory reasons without APRA’s prior written approval. Prospective purchasers of Subordinated Notes should not expect that APRA’s approval will be given for any redemption of Subordinated Notes.
“Regulatory Event” means the receipt by the directors of ANZBGL of (x) 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 in any Relevant Jurisdiction, 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 (y) an official written statement from APRA that, in each case, ANZBGL 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, ANZBGL did not expect that matters giving rise to the Regulatory Event would occur. ANZBGL does not intend to issue any Subordinated Note if, on the Issue Date thereof, it expects that matters giving rise to a Regulatory Event will occur.
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