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ASB Bank Limited has launched a 5-year Unsecured, unsubordinated, Fixed Rate Note.

Terms are as follows:

Issuer: ASB Bank Limited

Expected Issue Rating: AA- (negative outlook) by Standard & Poor’s.

Type of Security: Unsecured, Unsubordinated Fixed Rate Notes.

Size: Up to NZ$100 million, with the right to accept unlimited oversubscriptions.

Indicative Margin: 1.15-1.20%pa.

Indicative Interest Rate: 4.16 - 4.21%pa.

Interest payments: Semi-annual - each year on 24 February and 24 August.

Opening Date: Monday, 20 February 2017.

Closing Date: 22 February 2017 or earlier at the sole discretion of ASB.

Interest Rate Set Date: Wednesday, 22 February 2017 or earlier at the sole discretion of ASB.

Issue Date: Friday, 24 February 2017.

Expected Listing Date: Monday, 27 February 2017.

Maturity Date: 24 February 2022.

Listing: Application has been made to quote the Notes on the NZDX

Minimum Application and Denominations: NZ$5,000 and multiples of NZ$1,000 thereafter.