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An ANZ StEPS is a stapled security consisting of two fully paid securities that may not be traded separately - that is why it is called a 'stapled security'. ANZ StEPS stands for ANZ "Stapled Exchangeable Preferred Securities".
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The two securities are:
- An interest paying Note issued by ANZ Holdings (New Zealand) Limited ("ANZ(NZ)"), which is wholly-owned subsidiary of ANZ; and
- A Preference Share issued by ANZ which does not pay Dividends while it is 'stapled' to a Note.
ANZ StEPS are quoted on the Australian Securities Exchange (ASX) under the ticker symbol ANZPA.
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ANZ StEPS:
- Entitle Holders to a preferred, non-cumulative Distribution;
- Have certain terms that may be changed by ANZ (subject to certain conditions) on any Reset Date;
- May be Exchanged by you or by ANZ in a number of circumstances; and
- Rank in priority to Ordinary Shareholders, but are subordinated to all depositors and creditors.
- If you have any questions relating to your ANZ StEPS holding, please contact ANZ's Share Registry on (in Australia), (in New Zealand) or (outside of Australia and New Zealand).
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| ANZ StEPS prospectus 14 August 2003 (PDF, 2.57mb)
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| ANZ has announced that it will Exchange all ANZ StEPS into ANZ ordinary shares at a 2.5% discount on 15 September 2008 in line with the terms set out in the ANZ StEPS Prospectus. A copy of the announcement and letter sent to ANZ StEPS holders is set out below. For more information, please contact ANZ's Share Registry (details above) or see the webpage entitled "First Reset Date 15 September 2008" (left of page). |
| ANZ StEPS to be exchanged for ANZ Ordinary Shares (PDF, 60kb)
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