Obligation ABS Bank 0.75% ( XS1887485032 ) en EUR

ABS Bank

100 % ▲

Nouvelle-zelande

XS1887485032 ( en EUR )

0.75% par an ( paiement annuel )

08/10/2025 - Obligation échue

Prospectus brochure de l'obligation ASB Bank XS1887485032 en EUR 0.75%, échue

100 000 EUR

500 000 000 EUR

ASB Bank est une banque de détail et commerciale néo-zélandaise, filiale du Commonwealth Bank of Australia, offrant une gamme complète de services bancaires aux particuliers, aux entreprises et aux institutions.

L'Obligation émise par ABS Bank ( Nouvelle-zelande ) , en EUR, avec le code ISIN XS1887485032, paye un coupon de 0.75% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 08/10/2025

EXECUTION VERSION
FINAL TERMS
PROHIBITION OF SALES TO EEA RETAIL INVESTORS The Covered Bonds are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any
retail investor in the European Economic Area (the EEA). For these purposes, a retail investor means a person
who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as
amended MiFID II); (ii) a customer within the meaning of Directive 2002/92/EC (as amended, the Insurance
Mediation Directive), where that customer would not qualify as a professional client as defined in point (10) of
Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the
Prospectus Directive). Consequently no key information document required by Regulation (EU) No 1286/2014
(as amended, the PRIIPs Regulation) for offering or selling the Covered Bonds or otherwise making them
available to retail investors in the EEA has been prepared and therefore offering or selling the Covered Bonds or
otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs
Regulation.
MIFID
II
PRODUCT
GOVERNANCE/PROFESSIONAL
INVESTORS
AND
ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of each manufacturer's product
approval process, the target market assessment in respect of the Covered Bonds has led to the conclusion that:
(i) the target market for the Covered Bonds is eligible counterparties and professional clients only, each as
defined in MiFID II; and (ii) all channels for distribution of the Covered Bonds to eligible counterparties and
professional clients are appropriate. Any person subsequently offering, selling or recommending the Covered
Bonds (a distributor) should take into consideration the manufacturer's target market assessment; however, a
distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the
Covered Bonds (by either adopting or refining the manufacturer's target market assessment) and determining
appropriate distribution channels.
5 October 2018
ASB Finance Limited
Issuer Legal Entity Identifier (LEI): 549300A8V0FZJN79NH08
Issue of 500,000,000 Series 2018-1 0.750 per cent. Fixed Rate Covered Bonds due 2025
unconditionally guaranteed by ASB Bank Limited and
irrevocably and unconditionally guaranteed as to payment of principal and interest by
ASB Covered Bond Trustee Limited under the
7,000,000,000 ASB Covered Bond Programme
PART A CONTRACTUAL TERMS
Terms used herein will be deemed to be defined as such for the purposes of the Terms and Conditions set forth
in the Prospectus dated 30 August 2018 which constitutes a base prospectus for the purposes of the Prospectus
Directive (Directive 2003/71/EC) (the Prospectus Directive). This document constitutes the final terms of the
Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in
conjunction with the Prospectus. Full information on the Issuer, the Guarantor and the Covered Bond Guarantor
and the offer of the Covered Bonds is only available on the basis of the combination of this Final Terms and the
Prospectus. Copies of the Prospectus are available for viewing during normal business hours at the head office
of the Issuer at ASB Finance Limited, London Branch, 1 New Ludgate, 60 Ludgate Hill, London EC4M 7AW
and copies may be obtained free of charge to the public from the specified office of the Principal Paying Agent.
The Prospectus has been published on the website of the London Stock Exchange in accordance with Article 14
of the Prospectus Directive.

1.
Issuer:
ASB Finance Limited
2.
(i)
Guarantor:
ASB Bank Limited

(ii)
Covered Bond Guarantor:
ASB Covered Bond Trustee Limited
3.
(i)
Series of which Covered Bonds are to
be treated as forming part:
2018-1

1

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds
Not Applicable
will be consolidated and form a
single series:
4.
Specified Currency or Currencies:
EURO or
5.
Aggregate Nominal Amount of Covered

Bonds:
(i)
Series:
500,000,000
(ii)
Tranche:
500,000,000
6.
Issue Price of Tranche:
99.458 per cent. of the Aggregate Nominal Amount
7.
(i)
Specified Denominations:
100,000 and integral multiples of 1,000 in excess
thereof up to and including 199,000. No Covered
Bonds in definitive form will be issued with a
denomination above 199,000
(ii)
Calculation Amount:
1,000

8.
(i)
Issue Date:
9 October 2018
(ii)
Interest Commencement Date:
Issue Date
9.
Final Maturity Date:
9 October 2025
10.
Extended
Due
for
Payment
Date
of
Interest Payment Date falling in or nearest to October
Guaranteed Amounts corresponding to the
2026
Final Redemption Amount under the Covered
Bond Guarantee:
11.
Interest Basis:
(a)
0.750 per cent. per annum Fixed Rate from,
and including, the Issue Date, to, and
excluding, the Final Maturity Date payable
annually in arrears.
(b)
If applicable (see paragraph 16 below), 1
Month EURIBOR plus 0.28 per cent. per
annum Floating Rate with respect to the
period from, and including, the Final
Maturity Date to the earlier of:
(i)
(and excluding) the date on which
the Covered Bonds are redeemed in
full; and
(ii)
(and excluding) the Extended Due
for Payment Date,
payable monthly in arrears.
(further particulars specified below).
12.
Redemption/Payment Basis:
100 per cent. of the nominal amount
13.
Change of Interest Basis or Redemption/
Applicable in accordance with paragraphs 15 and 16
Payment Basis:
below

2

14.
Put/Call Options:
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.
Fixed Rate Covered Bond Provisions
Applicable from the Interest Commencement Date to
the Final Maturity Date
(i)
Rate of Interest:
0.750 per cent. per annum payable annually in arrears
on each Interest Payment Date

(ii)
(A)
Interest Payment Date(s):
9 October in each year up to and including the Final
Maturity Date (provided however, that after the Final
Maturity Date, the Interest Payment Date shall be
monthly up to and including the Extended Due for
Payment Date (if applicable as set out in paragraph
16 below))
(B)
Interest Periods
Unadjusted
(iii)
Fixed
Coupon
Amount(s)
for
7.50 per Calculation Amount
Covered Bonds in definitive form
(and in relation to Covered Bonds in

global
form,
see
Terms
and
Conditions):
(iv)
Business Day Convention:
Following Business Day Convention
(v)
Additional Business Centre(s):
London, New York, Sydney, Wellington and
TARGET2
(vi)
Calculation to be on a Calculation
Applicable
Amount Basis:
(vii)
Broken Amount(s) for Covered
Not Applicable
Bonds in definitive form (and in
relation to Covered Bonds in global
form, see Terms and Conditions):
(viii)
Day Count Fraction:
Actual/Actual (ICMA), unadjusted
(ix)
Determination Date(s):
9 October in each year
16.
Floating Rate Covered Bond Provisions
Applicable from the Final Maturity Date to the
Extended Due for Payment Date (if the Final
Redemption Amount is not paid in full on the Final
Maturity Date)

(i)
Specified Period(s)/Specified Interest
The period from, and including, each Specified
Payment Date(s):
Interest Payment Date to, but excluding, the
following Specified Interest Payment Date provided
that the first Specified Period shall be from, and
including, the Final Maturity Date to, but excluding,
the next Specified Interest Payment Date.

The Specified Interest Payment Dates shall be
monthly on the 9th day of each month from, and
including, 9 November 2025 to, and including, the
earlier of (i) the date on which the Final Redemption
Amount is paid in full and (ii) the Extended Due for

3

Payment Date
(ii)
Business Day Convention:
Modified Following Business Day Convention
(iii)
Additional Business Centre(s):
London, New York, Sydney, Wellington and
TARGET2

(iv)
Manner in which the Rate of
Screen Rate Determination
Interest and Interest
Amount
are
to be determined:

(v)
Calculation to be on a Calculation
Applicable
Amount Basis:
(vi)
Party responsible for calculating
the Rate of Interest and Interest
Amount (if not the Principal Paying
Agent):
Not Applicable
(vii)
Screen Rate Determination:

-
Reference Rate and
Reference Rate: 1 month EURIBOR
Relevant Financial Centre:

Relevant Financial Centre: London
-
Interest Determination
The second day on which TARGET2 is open prior to
Date(s):
the start of each Interest Period

-
Relevant Screen Page:
Reuters Screen Page EURIBOR01
(viii)
ISDA Determination:
Not Applicable
-
Floating Rate Option:
Not Applicable
-
Designated Maturity:
Not Applicable
-
Reset Date:
Not Applicable
(ix)
Margin(s):
+ 0.28 per cent. per annum
(x)
Minimum Rate of Interest:
Not Applicable
(xi)
Maximum Rate of Interest:
Not Applicable
(xii)
Day Count Fraction:
Actual/360, adjusted
PROVISIONS RELATING TO REDEMPTION

17.
Notice periods for Condition 5.2 (Redemption
Minimum Period: 30 days
for
Tax
Reasons)
or
Condition
5.5
(Redemption due to Illegality)
Maximum Period: 60 days
18.
Issuer Call:
Not Applicable
19.
Investor Put:
Not Applicable
20.
Final Redemption Amount:
1,000 per Calculation Amount
21.
Early Redemption Amount payable on
1,000 per Calculation Amount
redemption for taxation reasons or on event of

default and/or the method of calculating the
same:

4

GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
22.
Form of Covered Bonds:
Bearer Covered Bonds:

Temporary
Bearer
Global
Covered
Bond
exchangeable for a Permanent Bearer Global
Covered Bond which is exchangeable for Bearer
Definitive Covered Bonds upon an Exchange Event
23.
Additional Financial Centre(s) or other special
London, New York, Sydney, Wellington and
provisions relating to Payment Dates:
TARGET2
24.
Talons for future Coupons to be attached to
Definitive Covered Bonds (and dates on which
such Talons mature):
No
THIRD PARTY INFORMATION
Not Applicable

5

PART B OTHER INFORMATION

1.
LISTING AND ADMISSION TO TRADING
(i)
Listing and admission to trading:
Application for admission to the Official List of the
UK Listing Authority and for admission to trading
on the London Stock Exchange's Regulated Market
has been made by the Issuer or on its behalf
Date from which admission effective 9 October
2018
(ii)
Estimate of total expenses related to

admission to trading:
£4,500
2.
RATINGS

The Covered Bonds to be issued are expected to be
rated:

Fitch Australia Pty Ltd: AAA

Moody's Investors Service Pty Limited: Aaa
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Dealers, no person involved in the issue of the Covered Bonds has an
interest material to the offer. The Dealers and their affiliates have engaged, and may in future engage,
in investment banking and/or commercial banking transactions with, and may perform other services
for, each Issuer, the Covered Bond Guarantor and their affiliates.
4.
TOTAL EXPENSES
(i)
Estimated total expenses of the issue:
£200,000
5.
DISTRIBUTION

U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA D
6.
YIELD (Fixed Rate Covered Bonds only)
Indication of yield:
0.830 per cent. per annum

The yield is calculated at the Issue Date on the basis
of the Issue Price. It is not an indication of future
yield.
7.
OPERATIONAL INFORMATION

(i)
ISIN:
XS1887485032
(ii)
CUSIP:
Not Applicable
(iii)
Common Code:
188748503
(iv)
CFI:
Not Applicable
(v)
FISN:
Not Applicable
(vi)
Any clearing system(s) other than Not Applicable

6

Euroclear
Bank
SA/NV
and
Clearstream Banking S.A. and the
Depository Trust Company and the
relevant identification number(s):
(vii)
Name and address of initial Paying
Deutsche Bank AG, London Branch
Agent
Winchester House
1 Great Winchester Street
London EC2N 2DB
United Kingdom
(viii)
Names and addresses of additional
Not Applicable
Paying Agent(s) (if any):
(ix)
Prohibition of Sales to EEA Retail
Applicable
Investors:

(x)
Relevant Benchmark:
EURIBOR is provided by European Money
Markets Institute.
As at the date hereof, EURIBOR does not appear in
the register of administrators and benchmarks
established and maintained by the European
Securities and Markets Authority pursuant to
Article 36 of the Benchmarks Regulation. As far as
the Issuer is aware, as at the date hereof, the
transitional provisions in Article 51 of the
Benchmarks
Regulation
apply,
such
that
European Money Markets Institute is not currently
required to obtain authorisation/registration..

7

Signed on behalf of ASB FINANCE LIMITED acting through its London Branch as Issuer by its attorneys
in the presence of:
.................................

Signature of Attorney

.....................................

Name of Attorney

.....................................

Signature of Attorney

......................................

Name of Attorney

.......................................

Signature of Witness

.......................................

Name of Witness

...................................

Occupation

..................................

Address

8

Signed on behalf of ASB BANK LIMITED as Guarantor by its attorneys in the presence of:
.................................
Signature of Attorney
.....................................
Name of Attorney
.....................................
Signature of Attorney
......................................
Name of Attorney
.......................................
Signature of Witness
.......................................
Name of Witness
...................................
Occupation
..................................
Address

Signed on behalf of ASB COVERED BOND TRUSTEE LIMITED as Covered Bond Guarantor by its
attorney in the presence of:
....................................
Signature of Attorney
.....................................
Name of Attorney
.......................................
Signature of Witness
.......................................
Name of Witness
...................................
Occupation
..................................
Address

9