NAB CPS: Better value elsewhere

Key Points Economically, NAB CPS is almost identical to Westpac Capital Notes Recent sharemarket gains highlight the flaws in many hybrid strategies There are better options already listed on the ASX NAB has finally jumped at the chance to raise cheap equity from willing punters, with the launch of bank bill swap rate and mandatory conversion occurs (hopefully) in March 2021. It also includes the ‘non-viability trigger event’ (in addition to the ‘capital trigger event’) and can be written off if conversion isn’t possible. Which is better? It really comes down to your choice of Westpac or NAB. You’d...

NAB has finally jumped at the chance to raise cheap equity from willing punters, with the launch of bank bill swap rate and mandatory conversion occurs (hopefully) in March 2021. It also includes the ‘non-viability trigger event’ (in addition to the ‘capital trigger event’) and can be written off if conversion isn’t possible.

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