AMP Limited’s Subordinated Notes 2 now open

AMP Limited’s Subordinated Notes 2 (AMP Notes 2) offer opened last friday for eligible AMP Notes holders and securityholders.

As announced earlier this week, the size of the offer has increased from A$200 million to at least A$300 million and the margin set under the bookbuild is 2.65 per cent per annum over the market rate.

The final size of the offer will depend on the volume of applications received and accepted under the reinvestment offer and the securityholder offer.

Due to the strong support the offer has received, an offer to the general public will not be made and applicants under the reinvestment offer will be given a priority allocation over securityholder applicants. AMP retains the right to scale-back all applications.

Full details of the AMP Notes 2 offer are set out in the replacement prospectus, lodged with the Australian Securities and Investments Commission (ASIC) and the ASX today. The replacement prospectus is available to Australian investors at ampnotes2.com.au, or by calling the AMP Notes 2 information line below.

Anyone wishing to acquire AMP Notes 2 will need to complete and return an application form which is included with the replacement prospectus.

Existing AMP Note holders eligible to participate in the AMP Notes 2 reinvestment offer will be sent a letter with the replacement prospectus, along with a reinvestment form.

Investors should read the prospectus in full before deciding whether to apply for AMP Notes 2.

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