Bond Commonweal Bank 0% ( US2027A1KC09 ) in USD

Issuer	Commonweal Bank
Market price	100 % ▼
Country	Australia
ISIN code	US2027A1KC09 ( in USD )
Interest rate	0%
Maturity	04/06/2024 - Bond has expired
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Minimal amount	2 000 USD
Total amount	500 000 000 USD
Cusip	2027A1KC0
Standard & Poor's ( S&P ) rating	AA- ( High grade - Investment-grade )
Moody's rating	Aa3 ( High grade - Investment-grade )
Detailed description	Commonwealth Bank (CBA) is Australia's largest bank by assets, offering a wide range of financial services including retail banking, business banking, wealth management, and institutional banking. This financial overview details a specific bond instrument, identified by ISIN US2027A1KC09 and CUSIP 2027A1KC0, which has recently reached its maturity. The issuer of this debt security is Commonwealth Bank, a prominent financial institution based in Australia, recognized as one of the country's largest banks offering a comprehensive range of banking and financial services. The bond was denominated in United States Dollars (USD) and was notable for having a stated interest rate of 0%. This particular issuance had an aggregate principal amount of $500,000,000, with a minimum purchase threshold set at $2,000. Its maturity date was June 4, 2024, at which point the bond was fully redeemed at its par value, as reflected by its prevailing market price of 100% prior to redemption. Although a payment frequency of semi-annual was specified, the 0% interest rate strongly indicates a zero-coupon structure where the return for investors would have been derived from the difference between the purchase price and the par value upon maturity. The bond carried strong investment-grade credit ratings from leading agencies: an AA- rating from Standard & Poor's (S&P) and an Aa3 rating from Moody's, reflecting Commonwealth Bank's robust credit profile.