Bond ABS Bank 0% ( XS1043856308 ) in GBP

Issuer	ABS Bank
Market price	100 % ⇌
Country	New Zealand
ISIN code	XS1043856308 ( in GBP )
Interest rate	0%
Maturity	13/03/2017 - Bond has expired
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Minimal amount	100 000 GBP
Total amount	300 000 000 GBP
Detailed description	ASB Bank is a major New Zealand bank offering a range of personal and business banking services, including accounts, loans, mortgages, and wealth management products. An analysis of the fixed-income market highlights the characteristics of bond ISIN XS1043856308, an instrument issued by ASB Bank, a leading financial institution based in New Zealand. ASB Bank, formally known as Auckland Savings Bank, is one of New Zealand's largest and most prominent banks, a wholly-owned subsidiary of Commonwealth Bank of Australia (CBA), offering a comprehensive suite of banking and financial services across retail, business, and rural sectors, thus playing a significant role in the New Zealand economy and capital markets. This specific bond, denominated in Great British Pounds (GBP), represented a total issue size of 300,000,000 GBP, with a minimum investment threshold set at 100,000 GBP. Distinctively, the instrument featured a 0% interest rate, classifying it as a zero-coupon bond, meaning investors acquired it at a discount to its face value, receiving the full principal upon maturity. Originating from New Zealand, the bond matured on March 13, 2017, and has since been fully redeemed at its 100% market price, concluding its lifecycle. While a payment frequency of 1 was specified, consistent with its zero-coupon nature, the singular financial event for holders was the principal repayment at maturity.