Commonwealth Bank of Australia has announced the immediate suspension of its CommBank PERLS XIII Capital Notes (ASX Code: CBAPJ) from quotation, effective as of 8 October 2026. The suspension stems from an imminent redemption of the security, which will trigger the removal of CBAPJ from ASX listings under the exchange’s standard rules governing the cessation of securities. The action affects only this specific hybrid instrument and leaves all other quoted securities of CBA unaffected.
CBAPJ represents a tier-one capital security, a class of instrument that sits above ordinary equity but below senior debt in the capital structure of a bank. These hybrid securities serve dual purposes, functioning as both debt instruments and equity components for regulatory capital adequacy purposes. For investors holding CBAPJ, the suspension marks a transition from active trading to a redemption process that will conclude the security’s life on the ASX.
The mechanics of the suspension and removal involve two distinct phases. First, trading in CBAPJ halts immediately under Listing Rule 17.2 as CBA prepares to execute the redemption of outstanding notes. Second, following the formal announcement of redemption and the lodgement of an Appendix 3H notification with the ASX, the security will be permanently removed from the exchange’s official list. This two-step process ensures an orderly transition and complies with ASX disclosure requirements for the cessation of quoted securities.
For existing CBAPJ holders, the suspension signals the beginning of the redemption timeline, though the exact mechanics and timing of payment remain contingent on CBA’s formal redemption announcement. Investors should be aware that suspension from quotation prevents any trading activity in the secondary market, effectively closing off opportunities to adjust positions before redemption settles. The absence of trading pricing during suspension may also eliminate real-time market discovery for those seeking to understand the underlying value of their holdings during this transition period.
The redemption of CBAPJ aligns with the ordinary lifecycle of hybrid securities, many of which carry call dates or redemption options tied to capital requirements or regulatory changes. CBA’s decision to proceed with redemption reflects management’s capital management strategy and the role these securities play in the bank’s overall capital structure. The suspension and removal do not affect the bank’s ordinary shares or other securities on issue.
Investors holding CBAPJ should monitor for the forthcoming redemption announcement and Appendix 3H lodgement, which will provide details on payment dates, redemption prices, and settlement procedures. These announcements will clarify the exact timing and mechanics for capital return to noteholders. The ASX has classified this announcement as price sensitive and material, reflecting the significance of the capital structure event to Commonwealth Bank’s financial position and investor disclosures.
View the full ASX announcement (PDF)
About Commonwealth Bank of Australia (ASX: CBA)
Commonwealth Bank of Australia is the largest bank in Australia by market capitalisation, providing retail, business, and institutional banking services. It serves millions of customers across Australia and New Zealand.
If you would like to discuss this announcement, request a callback or call us on 1300 889 603.
