The ASB Capital Limited Perpetual Preference Shares (ASB Capital PPS) were issued by ASB Capital Limited (the Company) on 10 December 2002, and are listed on the NZX Main Board. They are perpetual and have no maturity date. Holders of the ASB Capital PPS do not have the right to request that their shares be repaid.
Dividends on the ASB Capital PPS are payable quarterly in arrear based on a fixed annual rate that is reset on 15 November each year. The fixed annual rate will include imputation credits (if any) that are attached to the dividends. These dividends are payable at the discretion of the Company’s directors, and may be cancelled for various reasons, including if the Company would not be solvent following the payment of a dividend.
The Company’s ability to pay dividends on the ASB Capital PPS is dependent on the payment of dividends by ASB Bank Limited (ASB). Therefore an investment in ASB Capital PPS may be affected by the ongoing performance, financial position and solvency of ASB.
ASB Capital PPS are not deposit liabilities or protected accounts of Commonwealth Bank of Australia (CBA) for the purposes of the Australian Banking Act. Neither CBA nor ASB guarantees the ASB Capital PPS.
The ASB Capital PPS offer is no longer available for application.
The following documents are available for your information only. The complete terms of the ASB Capital PPS are set out in Article 4 of the Company’s Constitution.
Disclaimer: The information contained in this ASB website is designed for use by New Zealand residents only. Neither ASB Bank Limited, the Commonwealth Bank of Australia Group, nor any of their directors, nor any other person guarantees the securities or returns made in respect of the securities. The securities are subject to investment risk including loss of income and principal invested.