STATE BANK OF SOUTH AUSTRALIA ISSUES NOVEL BOND
The State Bank of South Australia is
issuing a novel 50 mln Australian dlr eurobond due April 8,
1992 paying an initial coupon of 16-1/4 pct and priced at 101
pct, lead manager Swiss Bank Corp International said.
    The coupon will then be re-fixed annually at the one-year
Australian Treasury rate. There will also be an investor put
option annually at par. The selling concession is 3/4 pct while
management and underwriting combined pays 3/8 pct.
    The non-callable bond is guaranteed by the state of South
Australia and will be listed in Luxembourg. Denominations are
1,000 and 10,000 Australian dlrs. Payment date is April 8.
 REUTER
