Commonwealth Bank amends pricing for €1bn subordinated debt securities

Commonwealth Bank of Australia (CBA) has released an amended and restated pricing supplement, dated September 25, 2025, for its €1,000,000,000 subordinated debt securities. These securities, due August 26, 2037, are issued under CBA's US$70,000,000,000 Euro Medium Term Note Programme. The amendment, pursuant to ASX Listing Rules, addresses updated terms for these notes, which were initially issued on August 26, 2025.

The notes carry an initial interest rate of 3.788% per annum, payable annually, comprising an annual mid-swap rate for euro swap transactions with a seven-year term plus an initial margin of 1.32% per annum. Interest payment dates are set for August 26 each year, commencing August 26, 2026, until the maturity date. The issue price remains 100% of the aggregate nominal amount, and the notes are denominated in €100,000 and integral multiples of €1,000 in excess thereof up to and including €199,000.

Distribution of the notes is syndicated, with joint lead managers including Barclays Bank PLC, BNP Paribas, Commonwealth Bank of Australia, Deutsche Bank AG, London Branch, and Société Générale. Co-managers are Coöperatieve Rabobank U.A. and ING Bank N.V., Singapore Branch. The total commission and concession for the issue is 0.35% of the aggregate nominal amount. The notes are designated for professional investors and eligible counterparties only, with sales prohibited to EEA, UK, and Belgian retail investors.