QUOTATION NOTICE: NZX DEBT MARKET
BANK OF NEW ZEALAND NOTES (“BNZ130”)

Issuer, Lead Manager and Organising Participant: Bank of New Zealand ("BNZ")

Security Code: BNZ130

ISIN: NZBNZDT394C5

Details of Issue: An offer of $550,000,000 unsecured unsubordinated fixed rate notes

Opening Date: Monday, 12 November 2018

Closing Date: 2:00pm Wednesday, 14 November 2018 or earlier at the Issuer's discretion

Interest Rate: 3.648% per annum

Maturity Date: Thursday, 16 November 2023

Issue Date: Friday, 16 November 2018

Interest Payment Dates: 16 May and 16 November of each year up to and including the Maturity Date

Date of First Interest Payment after Quotation: Thursday, 16 May 2019

First Interest Paid To: Holder on Record Date

Record Date: Close of business on the 10th calendar day prior to the relevant payment date

Minimum Application Amount: NZ$5,000 and multiples of NZ$1,000 thereafter

Minimum Holding: NZ$5,000

Minimum Amount Transferrable: NZ$1,000

Face Value: NZ$1.00

Registrar: Computershare Investor Services Limited

Settlement Status: NZCDC Settlement System

Expected Commencement of Trading on the NZX Debt Market: Monday, 19 November 2018

Mark Peterson

Chief Executive Officer
NZX Limited
14 November 2018