ANZ

The ANZ website contains the following categories:

The About ANZ category contains the following sections:

ANZ StEPS
Reset of terms

What are Reset Dates?

Reset Dates are dates on which:
  • ANZ may require you to Exchange your ANZ StEPS or may change some of the terms of ANZ StEPS subject to certain restrictions; and
  • You may choose to Exchange your ANZ StEPS.
The first Reset Date is 15 September 2008. ANZ may vary the period between Reset Dates after the first Reset Date.

What Terms can ANZ change?

On any Reset Date, ANZ may (subject to APRA's approval) change any of the following terms:
  • The next Reset Date;
  • The Market Rate (from a floating rate to a fixed rate or vice versa);
  • The Margin; and
  • The frequency and timing of Distribution Payment Dates.
If ANZ changes any terms of ANZ StEPS, the new terms apply from the Reset Date on which they change until the next Reset Date.

There are restrictions on ANZ's ability to change the terms set out above. For example, ANZ may not increase the margin until 15 September 2013.

Will you be notified if ANZ intends to change any terms on a Reset Date?

Yes. At least 50 Business Days before a Reset Date, ANZ will send you notice of any terms it intends to change.

If ANZ does not send Holders a Reset Notice, then the existing terms will continue to apply until the next Reset Date.