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Macquarie Bank Limited Capital Notes 2
50 Securities ($5,000) and in multiples of 10 Securities ($1,000) thereafter.
Please note, your application is subject to availability of Securities, and may be scaled back
BCN2 are perpetual meaning they do not have a fixed maturity date but, subject to certain conditions being met, are scheduled to be exchanged into ordinary shares of Macquarie Group Limited (MGL) on 21 December 2028.
Distributions
BCN2 are scheduled to pay quarterly floating rate distributions (subject to the distribution Payment Conditions being met).
Distributions are expected to be franked at the same rate as MGL ordinary shares. MGL currently franks dividends on ordinary shares at 40%. The level of franking may vary over time and distributions may be partially, fully or not franked.
The first distribution is scheduled to be paid on 21 September 2020.
Distributions are discretionary (and subject to distribution Payment Conditions).
For more information, see section 2.1 of the Offer Document.
Margin
The margin will be announced on 15 May 2020 and is expected to be between 4.70% to 4.90% per annum, as determined through the bookbuild.
ASX Code
It is expected that BCN2 will be quoted under code “MBLPB”. |
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