ANZ issues ANZ Capital Notes 8 & redeems ANZ Cap Notes 3

Australia and New Zealand Banking Group Limited ABN 11 005 357 522
ANZ Centre Melbourne, Level 9A, 833 Collins Street, Docklands VIC 3008
News Release
For Release: 24 March 2023

ANZ issues ANZ Capital Notes 8
and redeems ANZ Capital Notes 3


Australia and New Zealand Banking Group Limited (ANZ) (ASX: AN3) today announced that
it has:

 issued 15 million ANZ Capital Notes 8 (ASX: AN3PK) (Notes) at $100 each, raising
$1.5 billion of Additional Tier 1 Capital; and

 redeemed all 9.7 million ANZ Capital Notes 3 (ASX: AN3PF) for their face value of
$100 each in accordance with the exchange notice issued by its New Zealand branch
on 15 February 2023. Approximately $502 million of the proceeds from the
redemption of ANZ Capital Notes 3 were reinvested in the Notes under the
Reinvestment Offer.

Allocation Policy
Allocations to Syndicate Brokers and Institutional Investors under the Offer were determined
under the Bookbuild. Allocations to individual applicants by each Syndicate Broker were at
the discretion of the Syndicate Broker.
Applicants under the Offer should confirm their allocation of Notes with their Syndicate
Broker.
ASX Trading
The Notes are expected to commence trading on the ASX on a normal settlement basis on
27 March 2023 under the ASX code “AN3PK”.
All applicants are responsible for confirming the number of Notes allocated to them prior to
selling any Notes. Applicants who sell Notes before receiving confirmation of their allocation
do so at their own risk.
ANZ expects confirmation statements for CHESS holders will be dispatched to successful
applicants by 31 March 2023.
Distribution Rate

The Distribution Rate for the first Distribution Period from (and including) the Issue Date of
24 March 2023 to (but excluding) the first Distribution Payment Date (which is expected to
be 20 June 2023) is 4.5151%. The Distribution Rate is calculated as follows:

3 month BBSW Rate on 24 March 2023
(first Business Day of the Distribution Period)
3.7002%
Plus Margin 2.7500%
Equals 6.4502%
Multiplied by (1 – the 30% Tax Rate) 0.7
Distribution Rate 4.5151%

This Distribution Rate equates to a fully franked Distribution amount of $1.0886 in respect
of each Note which, subject to ANZ’s absolute discretion and no Payment Condition existing
in respect of the Distribution Payment Date, is expected to be paid on 20 June 2023. This
amount and other relevant details are set out below:

Distribution in respect of each Note $1.0886
Distribution Payment Date 20 June 2023
Record date 8 June 2023
Number of days in the Distribution Period 88

Following the first Distribution Period, the Distribution Rate for the Notes will be reset
quarterly and announced on ASX.
1


Maximum Conversion Number

The Issue Date VWAP has been calculated as $23.72. Accordingly, the Maximum Conversion
Number has been set initially at:

 in the case of a Conversion occurring on a Mandatory Conversion Date, 8.4317 ANZ
Holdings Ordinary Shares per Note; and
 in the case of a Conversion occurring at any other time, 21.0793 ANZ Holdings Ordinary
Shares per Note.

For details about the calculation of these numbers and how they affect the Notes, see the
ANZ Capital Notes 8 Prospectus dated 23 February 2023 (Prospectus) which is available
online from the ANZ Shareholder Centre at www.anz.com/shareholder/centre/your-
shareholding/alternative-securities/anz-capital-notes/ .

Holders of ANZ Capital Notes 8

The twenty largest holders of Notes are detailed in Attachment A to this announcement.

The distribution schedule of the Notes is set out in Attachment B to this announcement.

Participation by Directors, ANZ Holdings Directors and their associates in the Offer

Directors, ANZ Holdings Directors and their associates were allocated 5,000 Notes.

ANZ Capital Notes 8 Class Ruling

The Australian Taxation Office (ATO) has advised that it expects to release a Class Ruling in
respect of the Notes on or around 12 April 2023. The Class Ruling is expected to be
consistent with the Taxation Summary contained in Section 7 of the Prospectus.

Once it is published, a copy of the Class Ruling will be available from the ANZ Shareholder
Centre at www.anz.com/shareholder/centre/your-shareholding/alternative-securities/anz-
capital-notes/ and from the ATO website at www.ato.gov.au (by searching in the ATO’s
Legal Database).

Unless otherwise defined, capitalised terms in this announcement have the meaning given to
them in the Prospectus.



1
If the applicable Franking Rate on the Distribution Payment Date is less than 100% then the Distribution will be
adjusted in accordance with clause 3.2 of the Note Terms.

For investor enquiries about the ANZ Capital Notes 8 Offer please visit
capitalnotes.anz.com or call the ANZ Information Line on 1800 113 399 (within
Australia) or +61 3 9415 4010 (international) (Monday to Friday – 8:30am to
5:30pm Melbourne time).

For media enquiries only contact:
Lachlan McNaughton, Head of Corporate Communications +61 457 494 414

Approved for distribution by ANZ’s Continuous Disclosure Committee



































NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR
INTO THE UNITED STATES OF AMERICA. This announcement does not constitute
financial product advice or an offer of any securities for sale. The securities
referenced will not be registered under the U.S. Securities Act of 1933, as amended
(Securities Act), or the securities laws of any state or jurisdiction of the United
States and may not be offered, sold or resold, directly or indirectly, in the United
States or to, or for the account or benefit of, any U.S. person (as defined in
Regulation S under the Securities Act), except pursuant to an exemption from, or in
a transaction not subject to, the Securities Act.

Attachment A– 20 Largest Holders of ANZ Capital Notes 8

Rank Investor Number of Notes % of Notes
2

1. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
1,577,826 10.52
2. CITICORP NOMINEES PTY LIMITED
735,650 4.90
3. HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2
511,013 3.41
4. FOCHEONG PTY LTD
470,000 3.13
5.
NETWEALTH INVESTMENTS LIMITED <WRAP SERVICES
A/C>
391,850 2.61
6.
BNP PARIBAS NOMINEES PTY LTD HUB24 CUSTODIAL SERV
LTD <DRP A/C>
353,710 2.36
7. J P MORGAN NOMINEES AUSTRALIA PTY LIMITED
306,479 2.04
8. NATIONAL NOMINEES LIMITED
178,961 1.19
9.
BNP PARIBAS NOMINEES PTY LTD <PITCHER PARTNERS
DRP>
138,936 0.93
10. DIMBULU PTY LTD
100,000 0.67
11. MUTUAL TRUST PTY LTD
65,260 0.44
12.
NETWEALTH INVESTMENTS LIMITED <SUPER SERVICES
A/C>
57,682 0.38
13. SEYMOUR GROUP PTY LTD
50,000 0.33
14.
FINCLEAR SERVICES NOMINEES PTY LIMITED <ACCUM
A/C>
49,058 0.33
15.
COLONIAL FIRST STATE INV LTD <9083725 DENDRON
A/C>
45,000 0.30
16. HAWAII INVESTMENTS PTY LTD
44,250 0.30
17.
MR PAUL WILLIAM BROTCHIE + MR KENNETH FRANCIS
WALLACE <STAFFORD FOX FOUNDATION A/C>
40,000 0.27
18.
MR ANDREW LARKE + MRS POLLY LARKE <A & P LARKE
SUPER FUND A/C>
35,250 0.24
19. FAMILY ENDEAVOURS PTY LTD <BEST ENDEAVOURS A/C>
31,000 0.21
20. CERTANE CT PTY LTD <CHARITABLE FOUNDATION>
30,776 0.21
Total 5,212,701 34.77
Total for other investors 9,787,299 65.23
Grand Total 15,000,000 100.00%

Attachment B- Distribution schedule of the ANZ Capital Notes 8

Range Total Holders Units % of Notes
2

1 - 1,000 11,601 4,256,314 28.38
1,001 - 5,000 1,713 3,607,030 24.05
5,001 - 10,000 123 930,415 6.20
10,001 - 100,000 70 1,541,816 10.28
100,001 and over 9 4,664,425 31.10
Total 13,516 15,000,000 100.00%


2
Any discrepancy in the sum of percentages is due to rounding