Investing

AMP Bank Limited

Diversified Financials

AMP Bank Limited

Latest price

$ 100.87

  • ASX code
    YTMF01
  • Maturity date
    06-Jun-2018
  • Capital structure
    Senior Unsecured
  • Coupon type
    FLOATING
  • Coupon P.A
    BBSW + .87%
  • Issue Date
    06-Jun-2014
  • Next ex. distribution date
    27-Nov-2017
  • Next interest payment date
    06-Dec-2017
  • Payment frequency
    Quarterly

Issuer

AMP Bank Limited (“AMP”)

Guarantor

AMP Group Holdings Limited

Base Terms

Debt Issuance Programme dated 31 May 2012

Pricing Supplement

Dated 4 June 2014

Nature of the Notes

Direct, unconditional and unsecured deposit liabilities, ranking equally with all other deposit obligations of the Issuer and will rank at least equally with all other unsecured and unsubordinated obligations of the Issuer, except liabilities mandatorily preferred by law.

Issue Date

6 June 2014

Interest Rate

3 Month BBSW plus 0.87%, payable in arrears on 6 March, 6 June, 6 September and 6 December in each year, including the Maturity Date.

Reset Dates

6 March, 6 June, 6 September and 6 December in each year.

Reference Rate

3 Month BBSW

Interest Margin

0.87%

Denomination

A$10,000

Repayment at Par on the Maturity Date

On the Maturity Date, holders are scheduled to receive the Face Value and the final Coupon Payment for the last Coupon Period.

Repayment at Par on the Maturity Date

On the Maturity Date, holders are scheduled to receive the Face Value and the final Coupon Payment for the last Coupon Period.

Key Benefits

Key benefits include:

  • interest paid quarterly in arrears;
  • interest paid is floating rate;
  • interest paid as 100% cash;
  • interest is not deferrable nor are interest payments discretionary;
  • rank equally with all other senior and unsecured creditors of the Issuer.

Early Redemption by Issuer

No

Events of Default

Events of Default include:

  • Payment Default: Applicable, with a 7 day cure period for principal and interest payments
  • Breach of other obligations: Applicable, with a 30 day cure period
  • Insolvency / Winding Up: Applicable;
  • Obligations Unenforceable: Applicable

Events of Default

Events of Default include:

  • Payment Default: Applicable, with a 7 day cure period for principal and interest payments
  • Breach of other obligations: Applicable, with a 30 day cure period
  • Insolvency / Winding Up: Applicable;
  • Obligations Unenforceable: Applicable

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