NAB CPS

NAB has finally jumped at the chance to raise cheap equity from willing punters, with the launch of NAB Convertible Preference Shares. It’s a preference share, so it’s different in form to Westpac Capital Notes, launched earlier in the month, but it’s almost identical in substance. Like Capital Notes, the dividend payments are quarterly, the indicative margin is 3.2% to 3.4% above the 90-day 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...

NAB has finally jumped at the chance to raise cheap equity from willing punters, with the launch of NAB Convertible Preference Shares. It’s a preference share, so it’s different in form to Westpac Capital Notes, launched earlier in the month, but it’s almost identical in substance.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles