Ann: Dividend/Distribution - NABPD, page-4

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Dexterhaven

74 Posts.

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10/04/19

11:05

Post #: 38075268
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Originally posted by Rocksinmyhead: ↑

From the NAB website

NAB Capital Notes 2 are convertible notes directly issued by NAB on 7 July 2016 and listed on the ASX under the code NABPD. The issue price for NAB Capital Notes 2 is $100 per NAB Capital Note 2. They're not guaranteed or secured and are not a deposit account or any other account of NAB.NAB Capital Notes 2 are expected to pay a discretionary, quarterly, floating rate, non-cumulative Distribution1. The Distribution Rate is equal to the sum of the Bank Bill Rate and a Margin of 4.95%, a sum adjusted for NABâ€™s Tax Rate2 to reflect franking credits attached to each Distribution (subject to availability)3. Distributions are expected to be fully franked.NAB Capital Notes 2 will mandatorily convert into NAB Ordinary Shares on 8 July 2024, provided certain conditions are met. With the written prior approval of APRA, NAB may elect to convert, redeem or resell NAB Capital Notes 2 on 7 July 2022, or on the occurrence of particular events, provided certain conditions are met.Holders will have no right to require NAB to convert NAB Capital Notes 2 into Ordinary Shares, or to redeem or resell NAB Capital Notes 2. Without a conversion, redemption or resale, holders would have to sell their NAB Capital Notes 2 on the ASX at the prevailing market price. etc etc

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Thanks Rocks! So NABPD shares are not tradeable? I'm always the cynic so I'm thinking this is how some NAB profits are distributed to people other than NAB shareholders?

NAB Price at posting: $24.56 Sentiment: None Disclosure: Not Held
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0 Great analysis

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