AMP announces redemption of AMP Capital Notes (ASX: AMPPA)
AMP Limited announced that it will redeem all of its A$267.5 million AMP Capital Notes (Notes) on the optional exchange date which is 22 December 2021 (Redemption Date). In accordance with the Terms of the Notes, AMP may elect to redeem some or all of the Notes on the Redemption Date, subject to prior written approval from the Australian Prudential Regulation Authority (APRA). APRA has provided its prior written approval of the redemption to AMP. Holders who are on the register of Notes on 14 December 2021 will receive the face value of A$100.00 per Note plus the final distribution of A$1.2755 per Note (together, Redemption Amount) on the Redemption Date. The key dates in relation to the redemption are set out below.
Key dates:
Last day of trading Notes on ASX - 10 December 2021
Record date for payment of the Redemption Amount - 14 December 2021
Redemption Amount payment date - 22 December 2021
Read the ASX announcement here
AMP capital notes (capital notes) are perpetual, convertible, subordinated and unsecured securities issued by AMP on 30 November 2015. Capital notes pay discretionary, non-cumulative and quarterly floating rate distributions, which are expected to be franked at the same rate as dividends on AMP shares.
Capital notes are Australian dollar securities which can be bought and sold on the Australian Securities Exchange and trade under the code AMPPA.
How to update your capital notes holding
To update or confirm your details:
- Click on the login to my shareholding button at the top right of the screen.
- You will be taken to the Computershare Investor Centre where you can follow the prompts to login as either an existing or new user.
- Once you are logged in, click on my profile on the right hand side under your name and select the information you wish to update.
The first time you log into your shareholding online you will need your capital notes holder number. You can find this in the top right corner of your hard copy capital notes holding statement. If you don't know your holder number, the AMP Investor Relations team can help. You can send an email to shares@amp.com.au or call 1800 245 500. You will need to provide your name, date of birth, phone number and the address on your shareholding.
Capital notes interest payment details
| Record date | Payment date* | Amount per note** | Franking rate applied*** |
|---|---|---|---|
| 11 March 2016 | 22 March 2016 | $1.6466 | 90% |
| 14 June 2016 | 22 June 2016 | $1.3478 | 90% |
| 14 September 2016 | 22 September 2016 | $1.2915 | 90% |
| 14 December 2016 | 22 December 2016 | $1.2297 | 90% |
| 14 March 2017 | 22 March 2017 | $1.2269 | 90% |
| 14 June 2017 | 22 June 2017 | $1.2542 | 90% |
| 14 September 2017 | 22 September 2017 | $1.2396 | 90% |
| 14 December 2017 | 22 December 2017 | $1.2261 | 90% |
| 14 March 2018 | 22 March 2018 | $1.2269 | 90% |
| 14 June 2018 | 22 June 2018 | $1.2887 | 90% |
| 14 September 2018 | 24 September 2018 | $1.5281 | 50% |
| 14 December 2018 | 24 December 2018 | $1.4444 | 50% |
| 14 March 2019 | 22 March 2019 | $1.2492 | 90% |
| 14 June 2019 | 24 June 2019 | $1.2842 | 90% |
| 13 September 2019 | 23 September 2019 | $1.0969 | 100% |
| 13 December 2019 | 23 December 2019 | $1.0497 | 100% |
| 13 March 2020 | 23 March 2020 | $1.1549 | 70% |
| 15 June 2020 | 23 June 2020 | $1.0786 | 70% |
| 14 September 2020 | 22 September 2020 | $0.9084 | 100% |
| 14 December 2020 | 22 December 2020 | $0.9058 | 100% |
| 12 March 2021 | 22 March 2021 | $0.8822 | 100% |
| 11 June 2021 | 22 June 2021 | $0.9052 | 100% |
| 14 September 2021 | 22 September 2021 | $1.2916 | 0% |
| 14 December 2021 | 22 December 2021 | $1.2755 | 0% |
* Subject to the solvency condition. If payment is due on a non-business day then the due date for the payment will be postponed to the first following business day.
** The final distribution rate may be higher or lower. The final rate will be updated on our website prior to payment.
*** The Franking Rate for the distribution period may be higher or lower depending on AMP's available Franking Credits.
Related documents
| Description | Publish date |
|---|---|
| AMP capital notes prospectus | July 2015 |
| AMP capital notes trust deed | October 2015 |
