BNZ Income Securities Limited

Hey im just reading over the investment statement of this offer:
http://www.bnz.co.nz/Personal_Soluti...,1-357,FF.html

Just wondering what everyones opinions on it are?

Cheers :)

Similar to the ANZ offer. Maybe banks are ensuring they have plenty of money tied up in the current world environment.

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Originally Posted by 777

Similar to the ANZ offer. Maybe banks are ensuring they have plenty of money tied up in the current world environment.

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That seems to be the case.

There are important differences between the two issues, however.
ANZ's is a Perpetual Callable, Subordinated bond issue, taxed at the investor's marginal tax rate. My broker says it is particularly suitable for non-tax payers and those on 19.5%.
BNZ's is a Perpetual, Non-cumulative share isse, taxed at the PIE rate of 30%. Broker reckons particularly suitable for 33% and 39% tax payers. Not suitable for non-tax payers.
Both rated A+ by S and P.
BNZ issue closes 25 March ( unless that date has been extended? )

CALL it what you like but its just another fund/ deposit or what ever helps the bank with cheap funds and nothing for you they are good at extracting money from SUCCERS...

I guess at the moment there are plenty of people who would be happy with 10% from a bank deposit.
Yes BNZ closes on the 25th so you're out of luck with that one. The ANZ offer closes on the 16th of April.
I've got some of each, if only to help stop me spending all my spare funds on stocks in a declining market!