This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.

What do I need to do by when?

On 6 June 2022, National Australia Bank Limited (NAB):

·         Issued a redemption notice in respect of NAB Capital Notes 2 (‘NCN2’) which were issued by NAB on 7 July 2016 (ASX: NABPD). That notice confirms that on 7 July 2022, NAB will redeem all NCN2 for $100 per NCN2 (‘NCN2 Redemption Price’); and

·         Announced an offer of new securities called NAB Capital Notes 6. That offer contains a Reinvestment Offer which provides eligible holders of NCN2 with the opportunity to reinvest all or some of their NCN2 Redemption Price directly into NAB Capital Notes 6 and maintain an ongoing investment in securities issued by NAB.

The Reinvestment Offer is expected to open on 14 June 2022.

For more information, including your options as an NCN2 holder, please see the NAB Capital Notes 6 Replacement Prospectus dated 14 June 2022 which was lodged with ASIC and ASX on that date.

What do I need to do by when?

Bid Details:

Offer Terms:

CHESS will process offer acceptance messages until 5:00pm (Sydney time) on 30 June 2022, or in the event that the offer is extended, such other times as may be notified by NAB to the market.

For further information relating to the Offer, please contact the NAB Capital Notes 6 Information Line on 1300 367 647 (within Australia) or +61 3 9415 4299 (outside Australia) (Monday to Friday, 8.00am – 7.30pm)

Need more information?

Issued by

Anjita Sharma, Equity Operations

Contact information

Anjita Sharma
1800 814 051
chesshelp@asx.com.au

General Information

Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below. 

• A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response. 
• In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
• Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
• if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise 
• by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer. 

Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.

Disclaimer