COMMONWEALTH BANK ISSUES DUAL CURRENCY BOND
Commonwealth Bank of Australia is
issuing a 15 billion yen dual currency bond due April 24, 1992
with an eight pct coupon and priced at 101-3/4 pct, Salomon
Brothers International said as lead manager.
    The issue is payable and redeemable in Australian dollars
although coupon payments will be in yen.
    Upon redemption, holders will be repaid at a rate of 83.91
yen per Australian dollar. Salomon said that the current
exchange rate is 103.62 yen to the Australian dollar.
    Payment date is April 25, and the securities are available
in denominations of five mln yen. They will be listed on the
London Stock Exchange.
    There is a 1/14 pct selling concession and a 5/8 pct
combined management and underwriting fee.
 REUTER
