Understanding the security description
Using the Guide, you can determine what the security description means.
- CAP NOTE | A Capital Note, or Issuer or a third party such as a prudential regulator like APRA, has a right to extinguish the security under certain circumstances.
- 6-BBSW+3.25% | The security pays a semi-annual floating distribution based on the 6 month BBSW rate +3.25%.
- PERP | The security has no maturity date (e.g. it is perpetual).
- NON-CUM | The distributions are non-cumulative.
- RED | The security is redeemable.
- T-03-24 | The security has a trigger date for possible conversion in March 2024.
Note: Due to character constraints, some features may not be able to be included in a security's description. For example, Capital Notes (such as ANZPE above) which by their nature are subordinated securities, do not include the description 'SUB'.
Always review the issuer's prospectus, PDS or term sheet and consult your adviser to ensure you are familiar with all of a security's features.