SUNCORP CPS2
| Minimum Investment | $10,000 |
| Expected Close | 17/10/2012 |
IPO – Suncorp CPS2 (ASX:SUNPC) Offer
Suncorp CPS2 – Broker Firm Allocation
OFFER NOW CLOSED
A high income investment in Suncorp Group
Wealth Focus has secured access to the Suncorp CPS2 IPO. Investors looking to apply for a guaranteed allocation will need to contact us on 1300 559 869.
Suncorp issue fairly priced
Due to timescales we haven’t provided our detailed analysis but have provided another broker’s view of this issue. Overall, our view is that relative to other recent bank hybrids, this issue is fairly priced. As we’ve highlighted in previous analysis such as CBA Perls VI, our key concern with these new bank and insurance offers are the mandatory conversion clauses if the issuer falls on hard times. Having said that, these are key conditions to qualify as APRA regulatory capital and are therefore here to stay.
We still expect this issue to be heavily sought after and the price to be set towards the bottom end of the range of 4.65%-4.85% over the BBSW (indicative rate of 8.04%-8.24%pa – 26/09/12). Update – Rate was set at 4.65% over the BBSW
- Download a prospectus
- Download a fact sheet
- Download the Suncorp presentation of this offer
- Webinar – An Introduction to Fixed Income
Call us on 1300 559 869 to ask us to secure your allocation.
Key Features
- Broker firm offer – Our allocation through the broker firm offer means investors are more likely to achieve their desired allocation without waiting for the general or shareholder offer.
- Limited Offer – The offer is to raise $500 Million, with the ability to raise more or less. The shares will be traded on the ASX
- Income – Suncorp CPS2 provide holders with quarterly fully franked distributions.
- High level of income – The indicative distribution rate is 4.65% over the 90 day Bank Bill Swap Rate (3.39% – 26/09/12) for an indicative rate of 8.04%pa.
- Minimum investment – $10,000 (this is a Wealth Focus minimum)
- Issue Price – $100
Find out more
If you would like further information on Suncorp CPS2 Offer, please click on the links below:
- Fact sheet
- Prospectus
- Research
- Presentation
- View our online webinar – An Introduction to Fixed Income
Please call us on 1300 559 869 to ask us to secure an allocation.
Best regards
Sulieman Ravell
Wealth Focus Pty Ltd
What do we get paid?
Wealth Focus will receive a payment of up to 1% plus GST of the amount invested. This commission is paid by the product issuer and is NOT an additional charge to the investor.
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