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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 StEPS holding, please contact ANZ's Share Register on .
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