It will have the ability to accept $150m in oversubscriptions from retail investors and eligible institutions.
The offer closes on November 2.
The notes will have a term of about 10 years but could be repaid earlier.
They will be converted into ordinary shares in Commonwealth Bank of Australia or written off if a “non-viability” trigger event occurs, such as ASB or CBA experiencing severe financial difficulty.
The notes are not guaranteed.
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