ASX listed securities
Macquarie Group Capital Notes 3 (MCN3) are unsecured, subordinated notes issued by Macquarie Group Limited. They are non-cumulative and mandatorily convertible. The MCN3 are quoted on the Australian Securities Exchange (ASX) under the code 'MQGPC'.
The MCN3 were listed on the ASX on 7 June 2018. The MCN3 offer raised $A1,000 million through the issue of 10 million MCN3 at $A100 each.
The initial mandatory exchange date is 15 December 2027.
Any information contained here is general in nature, is a summary of only some of the features of the MCN3 and has been prepared without taking into account your objectives, financial situation or needs. Before investing in MCN3, you should consider the appropriateness of the MCN3 having regard to your circumstances and the terms of the MCN3. To learn more about the MCN3 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 MCN3 – 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).
For details, refer to the prospectus located under Documentation.
The MCN3 pay quarterly distributions on or about:
If any of these dates are not a business day, the distribution will be paid on the next business day.
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 15 June payment will be released shortly after the annual results announcement in early May each year and the Distribution Rate for the 15 December payment will be released shortly after the half-year results announcement which is no later than early November each year. The 15 March and 15 September Distribution Rates will be announced shortly after the previous payment dates.
|Payment date||Distribution rate||Approximate distribution per security ($A)||Franking rate|