..Latitude IPO..

Discussion in 'Shares & Funds' started by willair, 17th Oct, 2019.

Join Australia's most dynamic and respected property investment community
  1. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,266
    Location:
    ..Hong Kong Garden..HK..
  2. Momentum

    Momentum Well-Known Member

    Joined:
    19th Aug, 2015
    Posts:
    1,085
    Location:
    Collins St, Melbourne
    I subscribed for a small amount but kinda thankful the IPO was cancelled after some reading on the Hotcopper and Whirlpool forums. Willair will you be subscribing to PERLS XII? The offer opens today..

    CommBank PERLS XII
    Capital Notes
    Applications Open
    [​IMG]
    Hi mate,

    The CommBank PERLS XII Capital Notes (PERLS XII or the Securities) Offer opens today, on 17 October 2019. To apply you will need to complete an application form in or accompanying the Replacement Prospectus.

    Offer overview
    PERLS XII are subordinated, unsecured notes issued by Commonwealth Bank of Australia (CBA or the Issuer). The offer is made under the PERLS XII replacement prospectus dated 17 October 2019 (Replacement Prospectus) and lodged with the Australian Securities and Investment Commission (ASIC) on that date, an electronic copy of which can be obtained by logging into your CommSec account and navigating to:
    • Trading > IPOs > IPO Investment Centre > IPO Offers
    • Select CommBank PERLS XII Capital Notes Offer
    CBA is acting as Arranger and Joint Lead Manager to the offer.

    Capitalised words used in this communication have the specific meanings given to them in the Replacement Prospectus unless otherwise defined.
    Key features of the offer
    Offer Size A$1.25 billion, with the ability to raise more or less.
    Initial Face Value $100 per PERLS XII.
    Minimum Application
    50 PERLS XII ($5,000) and in multiples of 10 PERLS XII ($1,000) thereafter.
    Please note, your application is subject to availability of PERLS XII, and may be scaled back.
    Term
    • PERLS XII are perpetual meaning they do not have a fixed maturity date but, subject to certain conditions being met, are scheduled to be Exchanged into Ordinary Shares on 20 April 2029.
    • In certain circumstances, such as a Capital or Non-Viability Trigger Event, PERLS XII will automatically be Exchanged into Ordinary Shares or may be written off.
    For more information, see Section 2 of the Replacement Prospectus.
    Distributions
    • PERLS XII are scheduled to pay quarterly floating rate Distributions (subject to the Distribution payment conditions being met).
    • Distributions are expected to be fully franked.
    The first Distribution is scheduled to be paid on 15 March 2020.
    • Distributions are discretionary (and subject to distribution payment conditions).
    For more information, see Section 2.1 of the Replacement Prospectus.
    Margin 3.00% per annum.
    ASX Code It is expected that PERLS XII will be quoted under code "CBAPI".
    Risks
    • Before deciding to invest you should consider whether PERLS XII are a suitable investment for you, and seek advice from a financial or other professional adviser.
    • There are risks associated with an investment in PERLS XII specifically, and risks associated with CBA's businesses which may affect PERLS XII. You should read Section 4 of the Replacement Prospectus (“Risks of CommBank PERLS XII Capital Notes”) in full.

    Learn more about bank hybrid securities
    ASIC has published guidance on hybrid securities on their MoneySmart website which may be relevant to your consideration of PERLS XII. You can find this guidance by copying and pasting moneysmart.gov.au into your browser and then searching 'hybrid securities'.
    Key dates for the offer 2019
    Securityholder Offer Record Date 2 October
    Lodgement of the Original Prospectus with ASIC 9 October
    Bookbuild 11 October
    Announcement of Margin 17 October
    Opening Date for the Offer and lodgement of the Replacement Prospectus with ASIC 17 October
    Closing Date for the Offer 8 November
    Issue Date 14 November
    Commencement of deferred settlement trading 15 November
    Despatch of Holding Statements 18 November
    Commencement of trading on normal settlement basis 19 November
    Key dates for CommBank PERLS XII Capital Notes
    First Distribution Payment Date1 15 March 2020
    Call Date 20 April 2027
    Mandatory Exchange Date2 20 April 2029
     
  3. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,266
    Location:
    ..Hong Kong Garden..HK..
    Momentum, just looking back through the files ..I did invest in the first 2 and accepted the incentive that came with Perls one and 2 but after 2 as i was continually struggling and it was incredibly frustrating as i though that the price would at least go somewhere but they never did..I cashed those in and just reinvested the funds back into CBA and BOQ,then again it would have been better just to bang the whole amount into CBA as with BOQ as i will be sitting in the brisbane hilton in front of the BOQ entrepreneurial board very shortly at the AGM and have a listen to another organisation that most times honours the stake holders obligations ..

    So i guess it's no..imho..not advice in any way mate sometimes i get it right other times they end up like a hot air balloon on fire plummeting from the sky into the power--lines..
     
    Momentum likes this.
  4. gman65

    gman65 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,561
    Location:
    Brisbane
    I didn't really realise until recently they were just rebranded GE Money... run run far

    Even ethically a very bad choice, they have destroyed many lives
     

The shift to the regions has been quite profound with Millennials and Gen X leading the way. It seems affordability, lifestyle, and working from home have been the key drivers from which these generations have been able to take most advantage.