BNZ Subordinated Notes
BNZ Subordinated Notes are subordinated unsecured debt securities of Bank of New Zealand that were issued on 17 December 2015 and are quoted on the NZX Debt Market.
The BNZ Subordinated Notes are complex securities and riskier than a term deposit. The BNZ Subordinated Notes are not call deposits or term deposits with BNZ and may not be suitable for many investors.
The BNZ Subordinated Notes have a term of 10 years but may be repaid earlier in certain circumstances. The BNZ Subordinated Notes may also be converted into shares in National Australia Bank Limited ABN 12 004 044 937 (NAB) or written off if BNZ or NAB experience severe financial difficulty.
The BNZ Subordinated Notes are treated as Tier 2 Capital for BNZ and the NAB Level 2 Group. The BNZ Subordinated Notes are not guaranteed by NAB or any other person.
The documents below are provided for your information only. The BNZ Subordinated Notes offer closed on 14 December 2015 and is no longer available for application.
- Investment Statement PDF 2.56MB
- Terms Sheet PDF 56KB
- Deed Poll PDF 364KB
- Coordination Agreement PDF 188KB
- NAB Constitution PDF 892KB
- Launch Announcement PDF 76KB
- Rate Set Announcement PDF 116KB
- Closing Announcement PDF 71.3 KB