Convertible Preference Shares

For queries in relation to any of these, please call 1800 113 399 (Australia), 0800 174 007 (New Zealand) or +61 3 9415 4010 (international).

Due to legal restrictions, access to this website is only available to residents of Australia or New Zealand from within Australia or New Zealand.

By clicking to download a prospectus you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:

  • you are not in the United States or a "U.S. person"(as defined in Regulation S under the US Securities Act of 1933, as amended)(US Person) nor are you acting for the account or benefit of a US Person;
  • you will not make a copy of the documents on this page available to, or distribute a copy of such documents to, or for the account or benefit of, any US Person or any person in the United States or in any other place in which, or to any other person to whom, it would be unlawful to do so; and
  • the State or Territory and postcode provided by you for your primary residence in Australia or New Zealand are true and accurate.

CPS1 (ASX: ANZPB)

ANZ Subordinated Notes cover

Please note: CPS1 were bought back in accordance with their terms on 16 June 2014.

View the prospectus: CPS1 prospectus (PDF 736kB) [1]

 

 

View the announcements made by ANZ in relation to CPS1:

CPS1 Payment History

Pay Date Record Date Dividend Franking Level Rate ASX Announcement
Please refer to the 17 March 2014 ASX announcement to obtain details of the final CPS1 dividend 17/03/2014 [9]
17/03/2014 27/02/2014 $0.8880 Fully franked @ 30% 3.5618% 04/02/2014 [10]
16/12/2013 29/11/2013 $0.8866 Fully franked @ 30% 3.5560% 18/11/2013 [11]
16/09/2013 30/08/2013 $0.9216 Fully franked @ 30% 3.6966% 06/08/2013 [12]
17/06/2013 30/05/2013 $1.0148 Fully franked @ 30% 3.9404% 22/05/2013 [13]
15/03/2013 27/02/2013 $0.9451 Fully franked @ 30% 3.9200% 23/01/2013 [14]
17/12/2012 30/11/2012 $1.0524 Fully franked @ 30% 4.2210% 18/09/2012 [15]
17/09/2012 31/08/2012 $1.1009 Fully franked @ 30% 4.2747% 09/08/2012 [16]
15/06/2012 30/05/2012 $1.2280 Fully franked @ 30% 4.8720% 16/05/2012 [17]
15/03/2012 28/02/2012 $1.2295 Fully franked @ 30% 4.9315% 06/02/2012 [18]
15/12/2011 30/11/2011 $1.2856 Fully franked @ 30% 5.1567% 18/11/2011 [19]
15/09/2011 31/08/2011 $1.3271 Fully franked @ 30% 5.2652% 17/08/2011 [20]
15/06/2011 30/05/2011 $1.3127 Fully franked @ 30% 5.2080% 17/05/2011 [21]
15/03/2011 25/02/2011 $1.3126 Fully franked @ 30% 5.3235% 17/02/2011 [22]
15/12/2010 30/11/2010 $1.2836 Fully franked @ 30% 5.1485% 15/11/2010 [23]
15/09/2010 31/08/2010 $1.3071 Fully franked @ 30% 5.1858% 13/08/2010 [24]
15/06/2010 28/05/2010 $1.2227 Fully franked @ 30% 4.8510% 16/03/2010 [25]
15/03/2010 25/02/2010 $1.1651 Fully franked @ 30% 4.7250% 15/12/2009 [26]
15/12/2009 30/09/2009 $1.0393 Fully franked @ 30% 4.1685% 16/11/2009 [27]
15/09/2009 31/08/2009 $1.0225 Fully franked @ 30% 4.0565%  
15/06/2009 28/05/2009 $0.9657 Fully franked @ 30% 3.8733% 11/05/2009 [28]
16/03/2009 26/02/2009 $1.2234 Fully franked @ 30% 4.9070% 16/02/2009 [29]
15/12/2008 28/11/2008 $1.4315 Fully franked @ 30% 6.8752%  

CPS2 (ASX: ANZPA)

ANZ Subordinated Notes cover

CPS2 were bought back in accordance with their terms on 15 December 2016.

Prospectus CPS2 (PDF 1.70Mb) [30]

 

 

View the announcements made by ANZ in relation to the allocation of CPS2: 

CPS2 Payment History 

Pay Date Record Date Dividend Franking Level Rate ASX Announcement
15/12/2016 30/11/2016 $0.8447 Fully franked @30% 3.3880% 19/09/2016 [35]
15/09/2016 31/08/2016 $0.9042 Fully franked @ 30% 3.5875% 20/06/2016 [36]
15/06/2016 30/05/2016 $0.9581 Fully franked @ 30% 3.8010% 17/03/2016 [37]
15/03/2016 26/02/2016 $0.9543 Fully franked @ 30% 3.8278% 21/12/2015 [38]
15/12/2015 30/11/2015 $0.9215 Fully franked @ 30% 3.6960% 18/09/2015 [39]
15/09/2015 31/08/2015 $0.9278 Fully franked @ 30% 3.6808% 22/06/2015 [40]
15/06/2015 28/05/2015 $0.9459 Fully franked @ 30% 3.7940% 15/06/2015 [41]
16/03/2015 26/02/2015 $1.0209 Fully franked @ 30% 4.0950% 03/02/2015 [42]
15/12/2014 28/11/2014 $1.0029 Fully franked @ 30% 4.0227% 17/11/2014 [43]
15/09/2014 29/08/2014 $1.0096 Fully franked @ 30% 4.0495% 19/06/2014 [44]
16/06/2014 29/05/2014 $1.0026 Fully franked @ 30% 4.0215% 17/03/2014 [45]
17/03/2014 27/02/2014 $0.9927 Fully franked @ 30% 3.9818% 04/02/2014 [10]
16/12/2013 29/11/2013 $0.9913 Fully franked @ 30% 3.9760% 18/11/2013 [11]
16/09/2013 30/08/2013 $1.0263 Fully franked @ 30% 4.1166% 06/08/2013 [12]
17/06/2013 30/05/2013 $1.1230 Fully franked @ 30% 4.3604% 22/05/2013 [13]
15/03/2013 27/02/2013 $1.0464 Fully franked @ 30% 4.3400% 23/01/2013 [14]
17/12/2012 30/11/2012 $1.1571 Fully franked @ 30% 4.6410% 18/09/2012 [15]
17/09/2012 31/08/2012 $1.2090 Fully franked @ 30% 4.6947% 09/08/2012 [16]
15/06/2012 30/05/2012 $1.3339 Fully franked @ 30% 5.2920% 16/05/2012 [17]
15/03/2012 28/02/2012 $1.3342 Fully franked @ 30% 5.3515% 06/02/2012 [18]
15/12/2011 30/11/2011 $1.3904 Fully franked @ 30% 5.5767% 18/11/2011 [46]
15/09/2011 31/08/2011 $1.4330 Fully franked @ 30% 5.6852% 17/08/2011 [47]
15/06/2011 30/05/2011 $1.4186 Fully franked @ 30% 5.6280% 17/05/2011 [48]
15/03/2011 25/02/2011 $1.4162 Fully franked @ 30% 5.7435% 17/02/2011 [49]
15/12/2010 30/11/2010 $1.3883 Fully franked @ 30% 5.5685% 15/11/2010 [50]
15/09/2010 31/08/2010 $1.4130 Fully franked @ 30% 5.6058% 13/08/2010 [51]
15/06/2010 28/05/2010 $1.3286 Fully franked @ 30% 5.2710% 16/03/2010 [52]
15/03/2010 25/02/2010 $1.2109 Fully franked @ 30% 5.0225% 12/02/2010 [53]

CPS3 (ASX: ANZPC)

ANZ Subordinated Notes cover

Approximately 7.67 million CPS3 were bought-back in accordance with their terms and cancelled on 28 September 2017.

As a result, approximately 5.73 million CPS3 remain on issue (subject to their terms).

Prospectus CPS3 (PDF 2Mb) [54]

 

View the announcements made by ANZ in relation to CPS3:

CPS3 Payment History / Upcoming Payments

Pay Date Record Date Dividend Franking Level Rate ASX Announcement
01/03/2018 14/02/2018 $1.4753 Fully franked @ 30% 3.4965% 28/09/2017 [60]
28/09/2017 20/08/2017 $0.2586 Fully franked @ 30% 3.4965% 05/09/2017 [61]
01/09/2017 17/08/2017 $1.7979 Fully franked @ 30% 3.5665% 06/03/2017 [62]
01/03/2017 14/02/2017 $1.7460 Fully franked @ 30% 3.5210% 08/09/2016 [63]
01/09/2016 17/08/2016 $1.9373 Fully franked @ 30% 3.8430% 02/03/2016 [64]
01/03/2016 15/02/2016 $1.8447 Fully franked @ 30% 3.6995% 10/09/2015 [65]
01/09/2015 17/08/2015 $1.9004 Fully franked @ 30% 3.7905% 04/03/2015 [66]
02/03/2015 13/02/2015 $2.0035 Fully franked @ 30% 4.0180% 03/02/2015 [42]
01/09/2014 15/08/2014 $2.0023 Fully franked @ 30% 4.0157% 07/08/2014 [67]
03/03/2014 14/02/2014 $1.9750 Fully franked @ 30% 3.9608% 04/02/2014 [10]
02/09/2013 16/08/2013 $2.1430 Fully franked @ 30% 4.2280% 06/08/2013 [12]
01/03/2013 14/02/2013 $2.2720 Fully franked @ 30% 4.6328% 23/01/2013 [14]
03/09/2012 17/08/2012 $2.7086 Fully franked @ 30% 5.3153% 09/08/2012 [16]
01/03/2012 15/02/2012 $2.3072 Fully franked @ 30% 5.4332% 06/02/2012 [18]

FAQ

What are CPS?

CPS are fully paid preference shares issued by ANZ pursuant to a prospectus dated:

  • 4 September 2008. CPS1 were bought back in accordance with their terms on 16 June 2014.
  • 8 November 2009. CPS2 were bought back in accordance with their term on 15 December 2016.
  • 31 August 2011 (CPS3 Prospectus), which will mandatorily convert into Ordinary Shares on 1 September 2019 (subject to certain conditions being satisfied) or if ANZ’s Common Equity Capital Ratio is equal to or less than 5.125% (or APRA determines that to be the case). Approximately 7.67 million CPS3 were bought-back in accordance with their terms and cancelled on 28 September 2017. As a result, approximately 5.73 million CPS3 remain on issue (subject to their terms).

CPS provide investors with Dividends that are preferred, non-cumulative, based on a floating rate and are expected to be fully or substantially franked. Dividends are scheduled to be paid semi-annually in arrears for CPS3 on the Dividend Payment Dates, subject to the Payment Tests. You should read the relevant Prospectus for a full description of the CPS.

The CPS are classified as Additional Tier 1 Capital under APRA's capital adequacy standards.

What is Mandatory Conversion?

CPS Holders will receive Ordinary Shares on Conversion, unless Exchanged earlier, of the CPS on the earliest Mandatory Conversion Date unless the Mandatory Conversion Conditions are not satisfied.

Upon Conversion CPS3 Holders will receive approximately $101.01 worth of Ordinary Shares per CPS3 based on the VWAP of Ordinary Shares during the 20 Business Days before the Mandatory Conversion Date.

For more information on the Mandatory Conversion you should read the relevant Prospectus.

When is the Mandatory Conversion Date?

The Mandatory Conversion Date are scheduled to be

  • CPS3: 1 September 2019

provided that all of the Mandatory Conversion Conditions are satisfied. If any of the Mandatory Conversion Conditions are not satisfied with respect to that date, then the Mandatory Conversion Date will be deferred until the next Dividend Payment Date on which all of the Mandatory Conversion Conditions are satisfied.

For more information on Mandatory Conversion Date you should read the Prospectus.

What are the Mandatory Conversion Conditions?

The Mandatory Conversion Conditions are:

  • First Mandatory Conversion Condition: the VWAP of Ordinary Shares on the 25th Business Day before but not including a possible Mandatory Conversion Date is greater than 56% of the Issue Date VWAP.
  • Second Mandatory Conversion Condition: the VWAP of Ordinary Shares during the period of 20 Business Days before (but not including) a possible Mandatory Conversion Date is greater than
    • CPS3: 50.51% of the Issue Date VWAP.
  • Third Mandatory Conversion Condition: Ordinary Shares remain listed and admitted to trading on ASX, and trading of Ordinary Shares has not been suspended for at least five consecutive Business Days prior to a possible Mandatory Conversion Date and the suspension is continuing on the possible Mandatory Conversion Date.

For more information on the Mandatory Conversion Conditions you should read the relevant Prospectus.

What is Mandatory Conversion on the occurrence of a Common Equity Capital Trigger Event?

CPS3 will convert into Ordinary Shares on the Common Equity Capital Conversion Date immediately following the occurrence of a Common Equity Capital Trigger Event. A Common Equity Capital Trigger Event occurs if ANZ’s Common Equity Capital Ratio (which is broadly equivalent to its Common Equity Tier 1 Capital Ratio under APRA’s existing prudential standards) is equal to or less than 5.125% (or APRA determines that to be the case).

Upon Conversion, CPS3 Holders will receive a number of Ordinary Shares per CPS3 based on the VWAP of Ordinary Shares during the 5 Business Days before the Common Equity Capital Conversion Date, but not more than the Maximum Conversion Number (based on a floor of 20% of ANZ share price at issue date). As a result, in these circumstances CPS3 Holders may receive only the Maximum Conversion Number of Ordinary Shares per CPS3 which may be worth significantly less than $101.01 and CPS3 holders may suffer loss as a consequence.

Such conversion is not subject to the Mandatory Conversion Conditions being satisfied.

For more information on Mandatory Conversion following a Common Equity Capital Trigger Event you should read the CPS3 Prospectus.

What is Optional Exchange?

Subject to receiving APRA’s prior written approval and certain conditions being satisfied, ANZ may choose to Exchange all or some CPS3 on 1 March 2018 and each subsequent semi-annual Dividend Payment Date.

Exchange for each CPS3 means either redeeming for $100 or converting into Ordinary Shares. Upon Conversion, CPS3 Holders will receive a variable number of Ordinary Shares with a value of approximately $101.01 per CPS3 based on the VWAP of Ordinary Shares during the 20 Business Days before the Exchange Date.

For more information on Optional Exchange you should read the CPS3 Prospectus.

When will the Dividend Rate be set?

The Margin for the Dividend Rate, determined by the Bookbuild, for CPS3 is 3.10% per annum.

The Dividend Rate for each Dividend Period will be set on the first Business Day of each Dividend Period and will be calculated using the following formula:

Dividend Rate = (Bank Bill Rate + Margin) x (1 - Tax rate)

The Bank Bill Rate used in calculating each Dividend will be the Bank Bill Rate on the first Business Day of the Dividend Period. You should read the relevant Prospectus for more details on how the Dividend Rate will be set.

How will the Dividend be calculated for each Dividend Period?

A Dividend scheduled to be paid on each Dividend Payment Date will be calculated using the following formula:

Dividend=(Divdend rate x Issue price x N)/365

where:

  • Dividend Rate = (Bank Bill Rate + Margin) x (1 - Tax rate)
  • Issue Price means $100 per CPS; and
  • N means the number of days in the Dividend Period.

ANZ proposes to announce on ASX the Dividend Rate for each Dividend Period.

What is the Issue Date VWAP?

The Issue Date VWAP was calculated as

  • CPS3: $19.53.

Accordingly, the Maximum Conversion Number is set at

  • CPS3: 10.2407 ANZ ordinary shares per CPS.

For details about the calculation of these numbers and how they affect CPS, see the relevant Prospectus.

How do I find out about my CPS allocation?

You may find out how many CPS you hold by calling the ANZ Information Line on 1800 113 399 (within Australia), 0800 174 007 (within New Zealand) or +61 3 9415 4010 (international) or by asking your Syndicate Broker.