NAB announced today an offer to raise $750m (more or less) of NAB Capital Notes 2. Each note is expected to have an issue price of $100, and a Margin between 4.95% - 5.10% over the 90 day bank bill rate. The notes will qualify as Additional Tier 1 Capital for the Group. The notes are fully paid perpetual, convertible notes, issued by NAB.

NAB is arranger and joint lead manager (JLM) to the offer. Other JLMs include Deutsche Bank, Evans & Partners, JP Morgan, Morgans, and Westpac Institutional Bank.

For further information, please see www.nab.com.au/ncn2offer