ASX listed securities

Macquarie Group Capital Notes 6

Macquarie Group Capital Notes 6 (MCN6) are unsecured, subordinated notes issued by Macquarie Group Limited. They are non-cumulative and mandatorily convertible.

The MCN6 are quoted on the Australian Securities Exchange (ASX) under the code 'MQGPF'. The MCN6 were listed on the ASX on 18 July 2022. The MCN6 offer raised $A750,000,000 through the issue of 7,500,000 MCN6 at $A100 each.

The Scheduled Mandatory Exchange Date is 12 September 2032.

Important information

Any information contained here is general in nature, is a summary of only some of the features of the MCN6 and has been prepared without taking into account your objectives, financial situation or needs. Before investing in MCN6, you should consider the appropriateness of the MCN6 having regard to your circumstances and the terms of the MCN6. To learn more about the MCN6 please refer to the information contained below. You should also seek independent financial advice before making such an investment decision.

ASIC has published guidance which may be relevant to your consideration of whether to invest in MCN6 – namely, information for retail investors who are considering investing in hybrid securities called “Hybrid securities and notes” (under the heading “Complex investments” at www.moneysmart.gov.au/investing). ASIC’s guidance includes a series of questions you may wish to ask yourself, and a short quiz you can complete, to check your understanding of how hybrids work, their features and the risks of investing in them. Free copies of this ASIC guidance can be obtained from ASIC’s website at www.moneysmart.gov.au/investing or by calling ASIC on 1300 300 630 (from Australia) or +61 3 5177 3988 (from outside Australia).

Distributions

For details, refer to the prospectus located under Documentation.

The MCN6 pay quarterly distributions on or about:

  • 12 March
  • 12 June
  • 12 September
  • 12 December

If any of these dates are not a business day, the distribution will be paid on the next business day.

2022

 

Note: The Distribution Rate will be determined, and the notice given, when all of the necessary inputs to the calculation are available. One of the inputs to this calculation is the franking rate. Macquarie determines its franking rate every six months along with the determination of MGL ordinary share dividend payments. As a result, the Distribution Rate for the 12 June payment will be released shortly after the annual results announcement in early May each year and the Distribution Rate for the 12 December payment will be released shortly after the half-year results announcement which is no later than early November each year. The 12 March and 12 September Distribution Rates will be announced shortly after the previous payment dates. 

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Payment date Distribution rate Approximate distribution per security ($A) Franking rate
12/09/2022 4.9936% $0.8072 40%

Target Market Determination

What is the DDO Regime?

The DDO Regime imposes additional obligations on MGL regarding the design and distribution of certain financial products offered to Retail Investors (including MCN6). Macquarie has made the Target Market Determination for MCN6 in accordance with its obligations under the DDO Regime.

What is the Target Market Determination for MCN6?

Macquarie has made the Target Market Determination for MCN6 in accordance with its obligations under the DDO Regime.

The Target Market Determination describes, among other things, the class of Retail Investors that comprise the target market for MCN6 (MCN6 Target Market) being Retail Investors who:

  • are seeking to acquire an investment product with the ability to generate income;
  • are not seeking capital growth;
  • are able to bear the risks associated with an investment in MCN6 (which are summarised in the Prospectus in particular, the lack of certainty as to payment of distributions and potential loss of some or all of the capital invested in MCN6;
  • do not require certainty as to repayment of capital invested within a specific investment timeframe; and
  • seek the ability to dispose of MCN6 by sale on a licensed securities exchange, at the price available on the exchange.

The TMD for the MCN6 can be found below.