Subordinated Notes

ASX Code: ANZHA

ANZ Subordinated Notes cover

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

View the prospectus: Subordinated Notes Offer Document (PDF 736kb) [1]

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

Subordinated Notes Payment History / Upcoming Payments

Pay date Record date Interest amount per Note Interest rate ASX Announcement
20/06/2017 09/06/2017 $1.1456 4.5450% 24/03/2017 [5]
20/03/2017 10/03/2017 $1.1195 4.5400% 21/12/2016 [6]
20/12/2016 12/12/2016 $1.1182 4.4850% 20/09/2016 [7]
20/09/2016 12/09/2016 $1.1960 4.7450% 21/06/2016 [8]
20/06/2016 10/06/2016 $1.2640 5.0700% 24/03/2016 [9]
21/03/2016 11/03/2016 $1.2728 5.1050% 21/12/2015 [10]
21/12/2015 11/12/2015 $1.2304 4.9350% 23/09/2015 [11]
21/09/2015 11/09/2015 $1.2225 4.9033% 25/06/2015 [12]
22/06/2015 12/06/2015 $1.2954 5.0300% 26/03/2015 [13]
20/03/2015 12/03/2015 $1.3329 5.5283% 22/12/2014 [14]
22/12/2014 12/12/2014 $1.3492 5.4417% 24/09/2014 [15]
22/09/2014 12/09/2014 $1.4031 5.4483% 23/06/2014 [16]
20/06/2014 12/06/2014 $1.3624 5.4050% 24/03/2014 [17]
20/03/2014 12/03/2014 $1.3237 5.3683% 23/12/2013 [18]
20/12/2013 12/12/2013 $1.3218 5.3017% 23/09/2013 [19]
20/09/2013 12/09/2013 $1.3989 5.5500% 21/06/2013 [20]
20/06/2013 12/06/2013 $1.4615 5.7983% 21/03/2013 [21]
20/03/2013 12/03/2013 $1.4548 5.9000% 21/12/2012 [22]
20/12/2012 12/12/2012 $1.5283 6.1300% 24/09/2012 [23]
20/09/2012 12/09/2012 $1.5774 6.2583% 21/06/2012 [24]
20/06/2012 12/06/2012 $1.8098 7.1800% 20/03/2012 [25]

FAQ

What are ANZHA?

ANZHA is the ASX code assigned to Subordinated Notes issued by ANZ pursuant to the Offer Document (Subordinated Offer Document) dated 21 February 2012. The ANZ Subordinated Notes are unsecured, subordinated debt obligations of ANZ. ANZHA provides investors with Interest based on a floating rate which is not deferrable and is paid quarterly in arrears on the Interest Payment Dates. You should read the Subordinated Offer Document (PDF 736kb) [1] for a full description of ANZHA.

What does Subordinated mean?

Subordinated means the Notes rank below secured creditors, holders of Protected Accounts, all depositors and other unsubordinated and unsecured debt obligations but rank equally with creditors whose claims rank, or are expressed to rank, equally with the claims of Holders.

The ranking of ANZ Subordinated Notes on insolvency is illustrated in the table below:

How are ANZ Subordinated Notes different from term deposits and ANZ’s convertible preference shares?

The difference between term deposits, ANZ Subordinated Notes and CPS3 are summarised in the table below:

When is the Interest paid?

Interest will be paid quarterly in arrears on the following dates each year as well as on the Maturity Date, or any earlier redemption date:

  • 20 March;
  • 20 June;
  • 20 September; and
  • 20 December

If any of these scheduled dates are not Business Days, then the Interest Payment Date will occur on the next Business Day. Interest payments are not deferrable so long as the Solvency Condition is met.

How will the Interest be calculated for each Interest Payment Period?

Interest payable on each ANZ Subordinated Note for each Interest Period is calculated using the following formula:

Interest = (Face Value x Interest Rate x Number of Days in Interest Period)/365

Where:

  • Face Value means $100.

The Interest Rate (expressed as a percentage per annum) is calculated according to the following formula:

Interest Rate = Bank Bill Rate + Margin

Where:

  • Bank Bill Rate means the average mid-rate for Bills or a term of 90 days as displayed on Reuters page BBSW on the first Business Day of the Interest Period.
  • Margin means 2.75% per annum.

Can the ANZ Subordinated Notes be redeemed before the Maturity Date?

Subject to prior written approval from the Australian Prudential and Regulation Authority (APRA), ANZ has the ability to redeem the ANZ Subordinated Notes early on 20 June 2017 or for certain taxation reasons on any Interest Payment Date. The amount payable on redemption of an ANZ Subordinated Note is its Face Value together with any accrued and unpaid Interest to the date of redemption.

Holders cannot request that their ANZ Subordinated Notes be redeemed early. The Notes may be sold by the holder on ASX before the Maturity Date subject to the liquidity of that market on the ASX.

If the ANZ Subordinated Notes are not redeemed early, what do I receive on the Maturity Date?

A. So long as the Solvency Condition is met, on 20 June 2022 the Holders of each Note will receive:

  • the Face Value; plus
  • any accrued and unpaid interest on the ANZ Subordinated Note.