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FINWIRES

Commonwealth Bank of Australia to Redeem PERLS XIII Capital Notes

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Commonwealth Bank of Australia (ASX:CBA) will redeem all outstanding PERLS XIII capital notes on Oct. 20 at their face value of AU$100 per note, according to a Tuesday Australian bourse filing.

The final distribution for PERLS XIII is also scheduled for payment on Oct. 20, subject to bank's discretion and the applicable payment conditions, per the filing.

Trading in PERLS XIII on the Australian Securities Exchange is expected to conclude on Oct. 8, the filing said.

The bank clarified that the redemption does not imply that its other callable capital instruments will also be redeemed, as any such decisions remain subject to their respective terms and Australian Prudential Regulation Authority approval, the filing added.

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