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Macquarie Deposit plus Access 200 |
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Rebate |
2.20% of the Deposit amount charged
up-front |
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Closing Date |
CLOSED |
| Minimum
Investment |
$10,000 |
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Term |
5 years |
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Interest rate |
The interest rate will be fixed for the term |
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Interest |
Paid annually to your nominated account |
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Withdrawals |
The Macquarie DPA 200 is designed to be held to
maturity, however investors may withdraw their
Deposit and their Access 200 Investment
annually.4 |
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Research |
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Lonsec |
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Enhance your cash portfolio with exposure to the Australian share market
Macquarie Deposit plus Access 200 (Macquarie DPA 200) provides investors with
the security of a cash deposit plus an exposure to the Australian share market
which is capital protected at maturity.
Key benefits
Competitive interest rate fixed for the term
Investors can lock in a fixed interest rate for five years providing a greater
level of certainty in an uncertain interest rate environment. Investors will
receive an annual fixed interest payment for the term.
The security of a deposit with Macquarie Bank Limited
Investors will hold a deposit with Macquarie Bank Limited, an Australian
authorised deposit-taking institution, currently covered by the Government
guarantee up to $1 million and for up to three years.1
A simple way to access to the Australian share market
Investors will gain exposure to any positive performance of the S&P/ASX 200
index over a set hurdle and below a set cap.
Capital protection at maturity
The investment amount used to gain exposure to the S&P/ASX 200 index (Access 200
Investment) is capital protected at maturity (subject to the limitations and
risks set out in the PDS and supplementary PDS). |
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Access online
To view the current fixed interest rate visit
www.macquarie.com.au/dpa
Investment overview
The Macquarie DPA 200 is designed to be held to maturity (five
years). If the investment is held to maturity an investor will receive2:
- The original application amount; and
- Five annual fixed interest payments; and
- Any gain on the S&P/ASX 200 index between a set
hurdle and cap.
The hurdle and cap will be fixed at the beginning of the investment term and
will be between 100%-150% for the hurdle and 130%-180% for the cap. There will
be no overlap between the actual hurdle and cap set.
Example
An investor submits an application form with an application amount of
$100,000 which is accepted by the issuer. The investor wishes to have a Deposit
and an Access 200 Investment. The investor will have a deposit of $90,000 with
Macquarie Bank Limited and an Access 200 Investment Amount of $10,000. The
Macquarie DPA 200 is held until maturity.
It is important to note that when calculating any gain from the exposure to the
S&P/ASX 200 index, the full application amount of $100,000 will be used. This is
demonstrated in the example below.
Assumptions:
1. The fixed interest rate is 4.45% p.a. on the issue date;
2. The S&P/ASX 200 index start level on the issue date is 3,500;
3. The fixed percentage rate for the set hurdle is 120% (as advised on the
Macquarie DPA 200 website);
4. The fixed percentage rate for the set cap is 150% (as advised on the
Macquarie DPA 200 website);
5. The set hurdle is 4,200 (S&P/ASX 200 index start level (3,500) x 120%);
6. The set cap is 5,250 (S&P/ASX 200 index start level (3,500) x 150%);
7. The S&P/ASX 200 index is 5,700 on the maturity date. However the level used
to calculate any S&P/ASX 200 gain is 5,250 (the set cap).
The investor would receive the following:
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Investor receives |
Explanation |
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Annual income |
$4,005 each year or $20,025 over five years 3 |
Annual fixed interest payment
($90,000 x 4.45%) = $4,005 x 5 years = $20,025 |
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At maturity (year 5) |
$30,000 |
S&P/ASX 200 gain
((5,250 – 4,200)/3,500) x 100,000 =
30,000 |
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$100,000 |
Return of deposit and Access 200 Investment Amount
(i.e.
the application amount) |
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Total payment at maturity |
$150,025 |
Total payment at maturity (includes return of
application amount). |
Please note that this is an
illustrative example only to show potential cash flows where an investment is
held to maturity, there is an S&P/ASX 200 gain and the investor has elected to
utilise the Sale Facility. The S&P/ASX 200 gain is not an indication of
anticipated future performance. You should not regard this as an indication of
how Macquarie DPA 200 will actually perform. Actual returns may differ
materially and could be lower. For the purposes of the example above it has been
assumed that no Establishment Fee is payable. Please note that an Establishment
Fee of 2.2% of the Deposit Amount is payable in addition to the Application
Amount.
Who may be interested in the Macquarie DPA 200?The Macquarie DPA 200 may suit investors who are looking for:
- The security of a bank deposit
- A fixed interest rate for the term
- Interest paid annually
- Access to the Australian share market with the benefit of capital protection
at maturity
- An investment that may be suitable for SMSFs
Before applying for the Macquarie DPA 200, it is important that investors read
and understand the terms and risks set out in the PDS and supplementary PDS.
Early withdrawal
An investor may withdraw from their investment annually. On early
withdrawal the deposit (less any break costs or plus any break gains) will be
returned to the investor plus the fixed annual interest payment for that year.
The investor will also receive the value of their Access 200 Investment at the
withdrawal date. This value will be the greater of the Realisable Value 5 or a
percentage of the original Access 200 Investment Amount as follows:
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Year 1 |
30% |
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Year 2 |
40% |
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Year 3 |
50% |
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Year 4 |
50% |
Risks
The key risks include:
Counterparty risk on Macquarie
The risk that Macquarie does not meet its
obligations. This may result in a loss of capital
protection and/or the non-payment of the S&P/ASX 200
gain (if any) at maturity. It may also mean that the
deposit is not returned and the interest payments
are not received.
Performance risk
The risk that the S&P/ASX 200 index does not
perform sufficiently well to exceed the set hurdle,
at maturity, which may be caused by a number of
factors including market volatility, global factors
or country, industry or asset specific factors.
- Loss of capital protection
Capital protection only applies to the Access
200 Investment at maturity and is subject to risks
and limitations.
Liquidity
Withdrawals are only available annually and
break costs may apply.6
Refer to section 3 of the PDS and supplementary PDS
for further details on the risks.
1
Deposits held as part of the Macquarie DPA 200 are guaranteed under the
Australian Government’s Financial Claims Scheme only up to $1 million per
customer. Potential depositors must consider any other deposits they hold with
Macquarie Bank Limited to determine whether total deposits exceed this threshold
as part or all deposit balances above this threshold will not be guaranteed.
Please note that the Deposit is only 90% of the Application Amount where both a
Deposit and Access 200 Investment are applied for. The Access 200 Investment is
not covered by the Government guarantee.
2
Subject to the risks set out in the PDS.
3
Year three has an additional day and therefore an additional day of interest
will be received.
4
Please note that capital protection of the Access
200 Investment does not apply prior to maturity and
break costs may apply. Please also note that the
Access 200 Investment value before maturity may be
less than the Access 200 Investment Amount and will
not include any S&P/ASX 200 gain.
5 The fair value of the Access 200
Investment as determined by Macquarie in its
absolute discretion. Macquarie may deduct any costs,
losses or expenses that Macquarie incurs due to the
Early Withdrawal or Early Maturity.
6 Please note that capital protection
of the Access 200 Investment does not apply prior to
maturity and break costs may apply. Please also note
that the Access 200 Investment value before maturity
may be less than the Access 200 Investment Amount
and will not include any S&P/ASX 200 gain.
This information is current as at 12 March 2009 and
has been prepared by Macquarie Bank Limited ABN 46
008 583 542 AFSL 237502 (“MBL”). The Macquarie DPA
200 is offered in a combined product disclosure
statement and financial services guide dated 12
November 2008 (PDS) and supplementary product
disclosure statement dated 12 March 2009 (SPDS). In
deciding whether to acquire or continue to hold an
investment, potential investors should obtain the
PDS together with the SPDS and consider its
contents.
This information is general advice and does not take
account of investors’ objectives, financial
situation or needs. Before acting on this general
advice, investors should therefore consider the
appropriateness of the information having regard to
their situation. We recommend investors obtain
financial, legal and taxation advice before making
any financial investment decision.
The Macquarie Group does not provide taxation
advice. The information contained in this document
is general in nature and does not take into account
the specific circumstances of any particular
investor. Investors should obtain their own
independent advice as to the taxation consequences
of investing in the product, which takes into
account their own particular circumstances.
Investments in the Access 200 Investment are not
deposits with, or other liabilities of Macquarie
Bank Limited ABN 46 008 583 542 or any other
Macquarie Group company, and are subject to
investment risk, including possible delays in
repayment and loss of income or capital invested.
None of Macquarie Bank Limited nor any other
Macquarie Group company guarantees any particular
rate of return on, or the performance of, the Access
200 Investment nor do they guarantee the repayment
of capital from the Access 200 Investment.
All capitalised terms used have the meaning given in
the PDS and SPDS. |
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