NAB launches A$ 3.25-year sustainable notes

(For the latest Australia and New Zealand bond news, double
click on [AU/CRD] and then double click on the ID number)

SYDNEY, Feb 12 (Reuters) - NabCapital said it has launched
an Australian dollar-denominated issue of 3.25-year capital
protected sustainable notes.

The offer, issued by Script Securitisation Ltd, will pay a
fixed rate coupon of 4 percent per year with the possibility to
receive a bonus of up to 12 percent.

The bonus, expected to be paid three times during the life
of the notes, will depend on the performance of a basket of 20
listed companies on the Australian stock exchange.

The companies selected have been scrutinised by a
governance and sustainable investment team at the Sustainable
Investment Research Institute (SIRIS).

The list comprises Australian companies that demonstrate
sound governance and management of environmental and social
factors, nabCapital said.

The indicative portfolio includes National Australia Bank
(NAB.AX: Quote, Profile, Research), BHP Billiton (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research), Telstra (TLS.AX: Quote, Profile, Research),
Wesfarmers (WES.AX: Quote, Profile, Research), Westpac Banking Corp (WBC.AX: Quote, Profile, Research).

Sectors off the list include tobacco, alcohol, gambling,
nuclear, firearms and entertainment.

NabCapital said it is hoping to raise A$20 million ($18
million) of notes through the participation of institutional
investors.

The offer, which closes on March 7, is expected to be rated
AA by S&P.

The notes mature on June 15, 2011 and will be issued on
March 17.
($1=A$1.11)
(Reporting by Cecile Lefort)