SBS Capital Bonds No. 2

What is the SBS Capital Bonds No.2?

We believe that our SBS Capital Bonds No. 2 is an investment option for people who are looking for a longer-term investment and would still like to receive a regular income stream from their investments.

Key features of the SBS Capital Bonds No.2

• A current interest rate of 6.25% p.a.*
• Fixed rate for the first 5-years, then a quarterly floating rate will apply
• Minimum investment of $10,000
• 10-year term**
• There is no cooling off period for this product 
• There is no early redemption (including partial withdrawals) 
• Interest paid quarterly

*This rate applies from 1 November 2024 until 30 November 2024 and includes a margin of 2.45%, which also applies during the floating rate period.

**Subject to SBS Bank’s right to repay on or after the five-year anniversary. 

If you’d like to chat to one of our friendly team about whether this could be the right option for you, simply the complete the form below or call our Contact Centre team on 0800 727 2265 and one of our helpful team members will be able to set up an appointment with a SBS Nominated Representatives who can provide you with financial advice.

Getting in Touch 

How to Apply

If you would like to apply, please complete the instructions set out on page 12 of the Limited Disclosure Document (LDD), section 9 "How to Apply".

The application guide and application form(s) are on pages 14 – 25 of the LDD. You need to complete an application form and submit it to SBS Bank.

Disclosures in relation to the SBS Capital Bonds No. 2

• SBS Capital Bonds No. 2 Limited Disclosure Document (19 September 2024)
• SBS Capital Bonds No. 2 Supplemental Deed Poll (24 January 2023)
• Master Deed Poll constituting the issue of subordinated & unsubordinated bonds dated 30 April 2014 (as amended and restated 26 September 2017)
• SBS Capital Bonds No. 2 Terms Sheet  (19 September 2024)
• SBS Capital Bonds No. 2 Rate Announcement (1 November 2024)

The SBS Capital Bonds No.2 (Bonds) are complex financial products that may not suit you. You should read the Limited Disclosure Document (LDD) for the Bonds in full, and talk to one of our Nominated Representatives who are able to provide financial advice on the Bonds. You can also consult a financial adviser before you decide whether or not to invest. If you do not fully understand how the Bonds work or the risks associated with them you should not invest in them. The Bonds are subordinated redeemable shares issued by SBS Bank and are not quoted on any stock exchange nor is there an established market for them. The offer may be withdrawn without notice. Our normal account opening criteria and Terms and Conditions apply. A copy of the LDD and our Financial Advice Provider Information along with our current Southland Building Society Disclosure Statement are available on request and free of charge from any branch or agency of SBS Bank, or can be viewed at  https://www.sbsbank.co.nz/About-Us/Annual-Reports-and-Disclosures