Issued 17 April 2014
ASB Subordinated Notes are subordinated, unsecured debt securities of ASB Bank Limited (ASB) that are quoted on the NZX Debt Market and are due to be repaid in full on the maturity date. ASB Subordinated Notes may, depending on the circumstances be repaid earlier, exchanged for ordinary shares in Commonwealth Bank of Australia (CBA) ABN 48 123 123 124, or if exchange cannot occur, rights under the ASB Subordinated Notes will be terminated.
Investments in ASB Subordinated Notes are an investment in ASB and may be affected by the ongoing performance, financial position and solvency of ASB. ASB Subordinated Notes may also be affected by the ongoing performance, financial position and solvency of CBA. They are not deposit liabilities or protected accounts of CBA for the purposes of the Australian Banking Act. CBA does not guarantee ASB or the ASB Subordinated Notes.
Please note that these documents are available for your information only. The ASB Subordinated Notes offer closed on 15 April 2014 and is no longer available for application.
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.