NAB has just announced the launch of their latest income hybrid: NAB Capital Notes.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in March.
The Notes will pay a quarterly coupon of 3.5%-3.7% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.33% as of the 19 February, with an initial indicative rate of 5.83%-6.03%pa. (The first pricing is due to be set on date of issue) The Notes are expected to
