COMMONWEALTH BANK OF AUSTRALIA Final Terms
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE COUNTERPARTIES ONLY TARGET MARKET - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, "MiFID II"); and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (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 Notes (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.
9 November 2023
Commonwealth Bank of Australia
ABN 48 123 123 124
Issuer Legal Entity Identifier (LEI): MSFSBD3QN1GSN7Q6C537
Issue of EUR 105,000,000 Floating Rate Notes due 13 November 2024
under the U.S.$70,000,000,000
Euro Medium Term Note Programme
Part A- Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Programme Circular dated 30 June 2023 and the supplement to it dated 9 August 2023 which together constitutes a base prospectus for the purposes of the UK Prospectus Regulation (the "Programme Circular"). This document constitutes the Final Terms of the Notes described herein for the purposes of the UK Prospectus Regulation and must be read in conjunction with the Programme Circular in order to obtain all the relevant information. The Programme Circular has been published on the Issuer's website at: https://www.commbank.com.au/about-us/investors/emtn-programme.html.
1. | Issuer: | Commonwealth Bank of Australia | |
2. | (i) | Series of which Notes are to be treated as | 6564 |
forming part: | |||
(ii) | Tranche Number: | 1 |
- Date on which the Notes will be Not Applicable consolidated and form a single Series:
3. Specified Currency or Currencies: | Euro (EUR or €) |
4. Aggregate Nominal Amount:
(i) | Series: | EUR 105,000,000 | |
(ii) | Tranche: | EUR 105,000,000 | |
5. | Issue Price: | 100 per cent. of the Aggregate Nominal Amount | |
6. | (i) | Specified Denominations: | EUR 100,000 |
- Calculation Amount (in relation to Specified Denomination calculation of interest on Notes in global
form see Conditions):
7. (i) Issue Date: | 13 November 2023 |
- Interest Commencement Date:
- Maturity Date:
- Interest Basis:
- Redemption/Payment Basis:
- Change of Interest Basis:
- Put/Call Options:
Issue Date
Interest Payment Date falling in or nearest to November 2024
3-month Euribor + 0.24 per cent. per annum Floating Rate (see paragraph 14 below)
Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100 per cent. of their nominal amount
Not Applicable
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13. Fixed Rate Note Provisions | Not Applicable | |
14. Floating Rate Note Provisions | Applicable | |
(i) | Specified Period(s)/Specified Interest | Quarterly, on 13 February 2024, 13 May 2024, 13 |
Payment Date(s): | August 2024 and 13 November 2024 commencing 13 | |
February 2024 up to and including the Maturity Date, | ||
subject to the Business Day Convention specified | ||
below | ||
(ii) | Business Day Convention: | Modified Following Business Day Convention |
(iii) | Additional Business Centre(s): | T2, London, New York, Sydney |
(iv) | Manner in which the Rate of Interest and | Screen Rate Determination |
Interest Amount are to be determined: |
- Calculation to be on a Calculation Amount Basis:
- Party responsible for determining the Rate of Interest and/or calculating the Interest Amount (if not the Principal Paying Agent):
- Screen Rate Determination:
- Reference Rate:
- Interest Determination Date(s):
- Relevant Screen Page:
- Specified Time:
- ISDA Determination:
- Linear Interpolation:
- Margin(s):
Not Applicable
Not Applicable
Applicable
3-month EURIBOR
The second day on which T2 is open prior to the start of each Interest Period
Reuters EURIBOR01
11:00 am (Brussels time)
Not Applicable
Not Applicable
+0.24 per cent. per annum
(xi) Minimum Rate of Interest: | Not Applicable | ||
(xii) Maximum Rate of Interest: | Not Applicable | ||
(xiii) | Day Count Fraction: | Actual/360, adjusted | |
15. | Zero Coupon Note Provisions | Not Applicable | |
PROVISIONS RELATING TO REDEMPTION | |||
16. | Issuer Call: | Not Applicable | |
17. | Investor Put: | Not Applicable | |
18. | Final Redemption Amount: | EUR 100,000 per Calculation Amount |
19. Early Redemption Amount payable on Condition 6(f) shall apply redemption for taxation reasons or on event of
default:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
20. | Form of Notes: | Bearer Notes: |
Temporary Bearer Global Note exchangeable for a | ||
Permanent Bearer Global Note which is exchangeable | ||
for Definitive Notes upon an Exchange Event | ||
21. | Payment Business Day Convention | Modified Following Business Day Convention |
22. | Additional Financial Centre(s): | T2, New York, London, Sydney |
23. | Talons for future Coupons to be attached to | No |
Definitive Notes: | ||
PROVISIONS APPLICABLE TO RMB NOTES | ||
24. | RMB Currency Event: | Not Applicable |
25. | Spot Rate (if different from that set out in | Not Applicable |
Condition 7(l)): | ||
26. | Party responsible for calculating the Spot Rate: | Not Applicable |
27. | Relevant Currency (if different from that in | Not Applicable |
Condition 7(l))): | ||
28. | RMB Settlement Centre(s): | Not Applicable |
DISTRIBUTION | ||
29. | Additional selling restrictions: | Not Applicable |
Signed on behalf of Commonwealth Bank of Australia:
By:……………………………………….
Senior Manager, Term Funding
Title:……………………………………….
Duly authorised
Part B- Other Information
1. LISTING AND ADMISSION TO TRADING
- Listing and admission to trading:
Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to trading on the London Stock Exchange's regulated market with effect from the Issue Date.
- Estimate of total expenses related to GBP 5,500 admission to trading:
2. RATINGS
The Notes to be issued are expected to be rated:
Standard & Poor's (Australia) Pty. Ltd.: AA-
3. REASONS FOR THE OFFER AND ESTIMATED NET PROCEEDS
(i) | Reasons for the offer: | See "Use of Proceeds" |
(ii) | Estimated net proceeds: | EUR 105,000,000 |
4. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Dealer and its affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary course of business.
5. YIELD | Not Applicable |
Indication of Yield: |
6. OPERATIONAL INFORMATION
(i) | ISIN: | XS2717356690 |
(ii) | Common Code: | 271735669 |
(iii) CFI Code: | DTVXFB, as updated, as set out on the website of | |
the Association of National Numbering Agencies | ||
(ANNA) or alternatively sourced from the | ||
responsible National Numbering Agency that | ||
assigned the ISIN | ||
(iv) FISN: | COMMNW.BK(AU)/VAR MTN 20241113, as | |
updated, as set out on the website of the Association | ||
of National Numbering Agencies (ANNA) or | ||
alternatively sourced from the responsible National | ||
Numbering Agency that assigned the ISIN | ||
(v) | CMU Instrument Number: | Not Applicable |
- Any clearing system(s) other than Euroclear and Clearstream, Luxembourg and the relevant identification number(s):
- CMU Lodging and Paying Agent:
- Delivery:
- Names and addresses of additional Paying Agent(s) (if any):
- U.S. Selling Restrictions:
- Prohibition of Sales to EEA Retail Investors:
- Prohibition of Sales to UK Retail Investors:
- Prohibition of Sales to Belgian Consumers:
- Relevant Benchmark:
7. THIRD PARTY INFORMATION
Not Applicable
Not Applicable
Delivery against payment
Not Applicable
Reg. S Compliance Category 2; TEFRA D Not Applicable
Not Applicable
Applicable
EURIBOR is provided by the European Money Markets Institute.
As of the date hereof, the European Money Markets Institute and EURIBOR appear in the register of administrators and benchmarks established and maintained by the UK Financial Conduct Authority pursuant to Article 36 of Regulation (EU) No. 2016/1011 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.
Not Applicable
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Disclaimer
Commonwealth Bank of Australia published this content on 13 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2023 14:15:44 UTC.
