• Fully paid, unsecured subordinated debt obligations of ClearView
• Minimum subscription amount of $500,000
• 10-year maturity with quarterly interest payments

ClearView Wealth Limited (ASX: CVW) has announced the pricing of a new issue of A$120m subordinated notes (Notes) in an offering to wholesale investors. The Notes will have a notional face value of $10,000 each, with a minimum subscription amount of $500,000 unless the Notes are otherwise issued in a manner which does not require disclosure in accordance with Part 6D.2 or Part 7 of the Corporations Act. Subject to satisfaction of a solvency condition, interest will be payable quarterly and will be calculated based on the BBSW rate plus a margin of 350 bps. The Notes will have a maturity of 10 years from the issue date and may be callable by ClearView from the issue date (if certain tax or regulatory events occur) and on interest payment dates following the fifth anniversary of the issue date, subject to the prior written approval of APRA and certain other conditions. The Notes may be converted into ordinary shares of ClearView or written-off if a non-viability trigger event occurs, and they are subordinated to senior creditors. ClearView expects to use the net proceeds of the issue of the Notes for general corporate and/or capital management purposes, including to fund Tier 2 Capital of ClearView Life Assurance Limited, a regulated life insurer within the ClearView Group.