ANZPA

About the author:

James Lawrence
Author name:
By James Lawrence
Job title:
Analyst
Date posted:
26 September 2014, 12:10 PM
Sectors Covered:
Gaming, Professional Services, Fixed Interest

ANZPA is currently our key pick in the listed fixed interest space.

Reasons to buy

  • The security has a yield to call of 6.01% (trading margin of 305bp) and a conversion date of 15 December 2016.
  • Gross running yield of 5.81%.
  • To guarantee conversion the ANZ share price has to be above $12.21 - given the current ANZ share price there is plenty of protection.
  • The security does not have any of the Basel III features (i.e. no common equity trigger or non-viability trigger).

If you are interested in finding out more about our ANZPA, please contact your nearest Morgans office.

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

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