ANZ

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The About ANZ category contains the following sections:

ANZ StEPS

What are ANZ StEPS?
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".
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.
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 1800 113 399.