Factsheet | NAB 6.558% 12May2041 Corp (AUD)


Bond Name		NAB 6.558% 12May2041 Corp (AUD)
Bond Issuer		National Australia Bank Limited
Guarantor		-
ISIN		AU3CB0334621
CUSIP		DK2314856

Issue Details

Cashflow Analysis


Currency	AUD
Coupon Rate	6.558
Coupon Type	Variable
Coupon Frequency	Semi Annually
Seniority	Subordinated
Capital Structure	Tier 2 (Subordinated Debt)

Issue Date	11 May 2026
Issue Price	100.000
Next Call Date	11 May 2036
Years to Next Call	9.890
*Call Price	100.000
Maturity Date	11 May 2041
Years to Maturity	14.892
^Redemption Price	100.000

Issue Size	AUD	1,000,000,000
Min Investment Qty	AUD	10,000
Incremental Quantity	AUD	10,000
Issuer Rating (S&P)	***
Issuer Rating (Fitch)	AA-
Bond Rating (S&P)	***
Bond Rating (Fitch)	A-
Exchange Listed	No


*If Called	11 May 2036
Date	Coupon Amount	Nominal Amount
11 May 2036	327.90
11 Nov 2035	327.90
11 May 2035	327.90
11 Nov 2034	327.90
11 May 2034	327.90
11 Nov 2033	327.90
11 May 2033	327.90
11 Nov 2032	327.90
11 May 2032	327.90
11 Nov 2031	327.90
11 May 2031	327.90
11 Nov 2030	327.90
11 May 2030	327.90
11 Nov 2029	327.90
11 May 2029	327.90
11 Nov 2028	327.90
11 May 2028	327.90
11 Nov 2027	327.90
11 May 2027	327.90
11 Nov 2026	327.90	10,000.00
Total	6,558.00	10,000.00

^Upon Maturity	11 May 2041
Date	Coupon Amount	Nominal Amount
11 May 2041	327.90
11 Nov 2040	327.90
11 May 2040	327.90
11 Nov 2039	327.90
11 May 2039	327.90
11 Nov 2038	327.90
11 May 2038	327.90
11 Nov 2037	327.90
11 May 2037	327.90
11 Nov 2036	327.90
11 May 2036	327.90
11 Nov 2035	327.90
11 May 2035	327.90
11 Nov 2034	327.90
11 May 2034	327.90
11 Nov 2033	327.90
11 May 2033	327.90
11 Nov 2032	327.90
11 May 2032	327.90
11 Nov 2031	327.90
11 May 2031	327.90
11 Nov 2030	327.90
11 May 2030	327.90
11 Nov 2029	327.90
11 May 2029	327.90
11 Nov 2028	327.90
11 May 2028	327.90
11 Nov 2027	327.90
11 May 2027	327.90
11 Nov 2026	327.90	10,000.00
Total	9,837.00	10,000.00

What You Paid

What You Get


Transaction Date		23 Jun 2026
Settlement Date		05 Jul 2026
Nominal Value	AUD	10,000.00
Bond Price	AUD	102.650
Accrued Interest	AUD	80.20
Processing Rate		0.20%
Processing Fee (0.20%)	AUD	20.00
GST (9.00%)	AUD	1.80
Processing Fee+GST	AUD	21.80
WAC	AUD	102.868
Total Investment	AUD	10,367.00


*If Called	6,558.00	10,000.00

Total Cashflow	AUD	16,558.00
Net Cash Return	AUD	6,191.00

Indicative Yield to Call		5.947%

^Upon Maturity	9,837.00	10,000.00

Total Cashflow	AUD	19,837.00
Net Cash Return	AUD	9,470.00

Indicative Yield to Maturity		5.946%

Coupon Reset Feature

Reset date: 12 May 2036 and every quarter thereafter
Reset Rate: 3 month BBSW + Initial Matgin (1.680%)

Bond Feature(s)

https://secure.fundsupermart.com/fsmone/bonds/factsheet/AU3CB0334621/NAB-6-558-12May2041-Corp-AUD-

Notes:

1) Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.

2) Indicative Yields shown are net of fees.

Bond Information

National Australia Bank Limited (NAB) provides banking and financial solutions. The Company offers internet banking, saving accounts, insurance, credit cards, home loans, and personal finance services. NAB serves customers worldwide.

Bond Issuer

National Australia Bank Limited

Guarantor

Announcement Date

05 May 2026

Issue Date

11 May 2026

Maturity Date / Next Call Date

11 May 2041 / 11 May 2036

Years to Maturity / Next Call

14.892 / 9.890

Issue/Reoffer Price

100.000

Issue/Reoffer Yield

6.558

Coupon Type

Variable

Annual Coupon Rate (%)

6.558

Annual Coupon Frequency

Semi Annually

Seniority

Subordinated

Exchange Listed

Reference Rate

Reset date: 12 May 2036 and every quarter thereafter
Reset Rate: 3 month BBSW + Initial Matgin (1.680%)

ISIN

AU3CB0334621

CUSIP

DK2314856

Bond Currency

AUD

Total Issue Size

AUD 1,000,000,000

Minimum Investment Quantity (Nominal)

AUD 10,000

Incremental Quantity (Nominal)

AUD 10,000

Bond Registration

Wholesale

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/AA-

Bond Credit Rating (S&P/ Fitch)

***/A-

Shariah Compliant

W-8BEN Declaration needed

Bond Feature(s)

Loss Absorption

Bail-in

Tier 2

Non-Viability Trigger Event: A Non-Viability Trigger Event occurs when APRA has provided a written determination to the Issuer that:
(a) the conversion or write-off of Relevant Capital Instruments of the Issuer is necessary because without the conversion or write-off, APRA considers that the Issuer would become non-viable; or
(b) without a public sector injection of capital into, or equivalent capital support with respect to, the Issuer, APRA considers that the Issuer would become non-viable

Conversion Following a Non-Viability Trigger Event: If a Non-Viability Trigger Event occurs, the primary method of loss absorption is Conversion. Upon a Non-Viability Trigger Event occurring, the Issuer will be required to immediately Convert all or, in some cases a proportion of the Subordinated MTNs into Ordinary Shares. If for any reason Conversion is not effected within five Business Days, Subordinated MTNs will be Written-Off and Holders’ rights, including any rights to payments of interest and principal, will be immediately and irrevocably terminated and written off with effect on and from the Conversion Date.

Issuer Call

The Interest Payment Date falling in or nearest to 12 May 2036 and each Interest Payment Date thereafter up to but excluding the Maturity Date.

Early redemption of Subordinated MTNs is subject to the prior written approval of APRA and to further requirements with respect to regulatory capital replacement (subject to income sustainability) or regulatory confirmation of the Issuer’s capital position.

Holders of Subordinated MTNs should not expect that APRA’s approval will be given for any early redemption of Subordinated MTNs.

Additional Notes

Early redemption of Subordinated MTNs for regulatory reasons

If the relevant Pricing Supplement states that the Issuer may redeem all or some of the Subordinated MTNs of a Series before their Maturity Date under this Condition, the Issuer may redeem all or some of the Subordinated MTNs of a Series before their Maturity Date for an amount in respect of each Subordinated MTN redeemed equal to its Redemption Amount and any interest accrued on it to (but excluding) the redemption date if a Regulatory Event occurs.

For the purpose of this Condition 12.4 (“Early redemption of Subordinated MTNs for regulatory reasons”), “Regulatory Event” means a determination by the Directors of the Issuer, having received:

(i) an opinion from a reputable legal counsel that, as a result of any amendment to, clarification of or change (including any announcement of any change that will be introduced) in any law or regulation of the Commonwealth of Australia or any political subdivision thereof or any authority thereof or therein, or any official administrative pronouncement or action or judicial decision interpreting such laws or regulations, or any direction, order, standard, requirement, guideline or statement of APRA (whether or not having the force of law), in each case which amendment, clarification or change is effective, or pronouncement, action or decision is approved, after the Issue Date; or

(ii) a written statement from APRA after the Issue Date,

that the Issuer is not or will not be entitled to treat all of the Subordinated MTNs as Tier 2 Capital, which event the Issuer did not expect as at the Issue Date of that Subordinated MTN (including where Subordinated MTNs are issued as a Tranche consolidated with an existing Series, as at the date of issue of that Tranche).

Price History

(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file

DATE	BID PRICE	ASK PRICE	ASK YIELD (CALL)	ASK YIELD (MATURITY)

22 Jun 2026	102.200	102.650	6.194	6.186
21 Jun 2026	102.550	102.600	6.201	6.191
18 Jun 2026	102.200	102.450	6.221	6.207
17 Jun 2026	102.200	102.600	6.201	6.192
16 Jun 2026	102.100	102.500	6.215	6.203
15 Jun 2026	101.650	102.150	6.262	6.237
14 Jun 2026	101.850	102.310	6.241	6.223
11 Jun 2026	101.380	101.900	6.296	6.264
10 Jun 2026	101.000	101.550	6.344	6.298
09 Jun 2026	100.850	101.350	6.371	6.324

Total of 35 entries

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FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.

Credit Rating

There are no credit rating changes for this bond for the past 3 years.

BOND NAME ISSUER	MATURITY DATE / NEXT CALL DATE	ASK PRICE	ASK YTM / YTW	BOND CREDIT RATING (S&P/FITCH)	action

NAB 3.933% 02Aug2034 Corp (USD) National Australia Bank Limited	01 Aug 2029 (Next Call Date)	96.679	5.102% p.a.	***/A-	TRANSACT
NAB 5.000% 19Jan2032 Corp (AUD) National Australia Bank Limited	18 Jan 2027 (Next Call Date)	99.859	5.075% p.a.	***/N.R	TRANSACT
NAB 6.150% 20Jul2037 Corp (AUD) National Australia Bank Limited	19 Jul 2037	98.306	6.366% p.a.	***/N.R	TRANSACT
NAB 4.950% Perpetual Corp (AUD) National Australia Bank Limited	11 Dec 2029 (Next Call Date)	95.381	6.458% p.a.	***/N.R	TRANSACT
NAB 5.902% 14Jan2036 Corp (USD) National Australia Bank Limited	13 Jan 2035 (Next Call Date)	102.492	5.532% p.a.	***/A-	TRANSACT
NAB 3.225% 18Nov2031 Corp (AUD) National Australia Bank Limited	17 Nov 2026 (Next Call Date)	99.304	4.020% p.a.	***/A-	TRANSACT
NAB 6.163% 09Mar2033 Corp (AUD) National Australia Bank Limited	08 Mar 2028 (Next Call Date)	101.207	5.407% p.a.	***/A-	TRANSACT
NAB 5.774% 30Jul2040 Corp (AUD) National Australia Bank Limited	29 Jul 2035 (Next Call Date)	97.608	6.112% p.a.	***/A-	TRANSACT
NAB 5.378% 12May2031 Corp (AUD) National Australia Bank Limited	11 May 2031	101.308	5.071% p.a.	***/N.R	TRANSACT
NAB 5.740% 09Feb2034 Corp (AUD) National Australia Bank Limited	08 Feb 2029 (Next Call Date)	100.589	5.493% p.a.	***/A-	TRANSACT

Remark

*Processing fee is subjected to a minimum of AUD 1.88 (or in its equivalent currency).
^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
T = Transaction Date
The Order processing time refers to the order completion and reflected in your account.
^The Purchase date will be based on T date

Platform Charge

For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note

All fees and commission quoted are exclusive of Goods and Services Tax (GST).
Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained

EDIT

Est. Payable Amount

AUD 10,367.00

Years to Call

9 years 10+ months

Est. Total Income

AUD 6,558.00

5.947%

Indicative Cash Flow

Nominal Value

AUD 10,000.00

2036
May
Coupon
AUD 327.90
Early Redemption
AUD 10,000.00
2035
Nov
Coupon
AUD 327.90
May
Coupon
AUD 327.90
2034
Nov
Coupon
AUD 327.90
May
Coupon
AUD 327.90

Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.

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