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Yes. Commonwealth Bank of Australia (CBA) and other major banks issue debt securities for funding and capital management. Owning a CBA bond makes you a creditor with rights defined by that debt instrument—not a bank depositor or shareholder.

The source FAQ listed the following CBA-related instruments. The figures and dates are reproduced as historical examples to verify against the final security documentation:

The source reports CBA’s issuer credit ratings as Aa2 (Moody’s) and AA− (S&P). Ratings and security terms are subject to change; an issuer rating is not necessarily the rating of a specific bond.

What does being a CBA creditor mean?

• Not a deposit: A bond is not a CBA bank account and is not protected by the Australian Government’s Financial Claims Scheme.
• Not equity: Bondholders do not acquire shareholder voting rights.
• Ranking matters: Senior unsecured claims generally rank ahead of subordinated Tier 2 and AT1 claims. Tier 2 and AT1 terms may include loss-absorption mechanisms such as conversion or write-off on non-viability.
• Prices change: Selling before maturity can realise a gain or loss.
• Recovery is conditional: If CBA experiences financial difficulty, recoveries depend on bond provisions, ranking and applicable law.

Availability is not assured. Consult the relevant final term sheet and risk documents rather than relying on these illustrative listings.

Candour Capital provides selected bonds, structured investments, Deferred Purchase Agreements (DPAs) and managed fund opportunities, primarily for eligible wholesale and professional investors.

Whether you may participate in a particular opportunity depends on:

• Whether you meet the applicable wholesale client or professional investor eligibility criteria.
• Whether the opportunity remains open and you meet its minimum subscription amount.
• Whether you understand and accept the investment term, liquidity constraints, issuer credit risk, market risk and risk to capital.
• How the investment fits your objectives, risk tolerance and overall asset allocation.

What if I am a retail investor? Candour Capital’s opportunities described in the source FAQs are intended for wholesale and professional investors, not retail investors. Retail investors may be able to access certain Australian Government Bonds through an ASX broker, eligible retail corporate bond or hybrid offers, and bond ETFs or regulated fixed income funds. These alternatives differ in cost, liquidity, minimum investment, risk and tax treatment.

To discuss eligibility and request information, contact info [at] candourcapital.com or call 1300 885 231. Consider independent advice before investing.

Under Australian financial services law, a wholesale client is generally an investor who satisfies certain legal criteria relating to assets, income, investment amount or investor category. Common pathways discussed in the source document include:

• Net assets of at least A$2.5 million.
• Gross income of at least A$250,000 in each of the previous two financial years.
• Investing at least A$500,000 in a particular financial product, where the applicable legal test can be relied upon.
• Qualifying under an institutional, professional investor or other legally recognised category.

For the assets or income pathways, a certificate from a qualified accountant is generally required. The applicable test may depend on the product, investing entity, financial service and law in force.

Important: Meeting a financial threshold does not establish that a product is suitable for you or guarantee access. Candour Capital, the issuer or arranger may request additional documentation, declarations, risk acknowledgements or other eligibility checks.

The following describes a general process. Actual requirements are determined by the relevant product documents, compliance obligations and Candour Capital’s latest onboarding procedures.

1. Enquire. Review available opportunities and contact Candour Capital through its enquiry form, info [at] candourcapital.com or 1300 885 231.
2. Confirm eligibility. Establish wholesale or professional investor status. Identification documents, entity details and an accountant’s certificate may be requested.
3. Review the documents. Read the term sheet, Information Memorandum, risk disclosures, issuer details and credit ratings where available. A master Information Memorandum for DPAs is published online, according to the source FAQ.
4. Understand the mechanics and risks. Check coupon calculations, tenor, early redemption or call provisions, any capital-protection conditions, strike or knock-in levels, issuer risk, currency risk and the potential worst-case outcome.
5. Apply. Complete the applicable application form, wholesale client confirmation and risk acknowledgements.
6. Settle. Transfer funds in accordance with the transaction documents and retain trade confirmations and evidence of holding.
7. Monitor. Follow coupon, observation, call and maturity dates, valuations and issuer communications.

Candour Capital reviews opportunities with regard to structure, payoff profile, maturity terms, risks and investor suitability considerations. A review does not remove investment risk.

Minimum subscriptions vary by product and may depend on the security type, issuance terms, market conventions, investor category, subscription size and applicable regulations. The relevant term sheet, Information Memorandum, application form and latest confirmation from Candour Capital take precedence.

The following figures are examples from the source FAQ, not universal or currently confirmed minimums:

CBA’s fixed income guide cited by the source notes that, excluding retail bonds and hybrids, wholesale bond parcels may generally start at A$500,000. This is not a minimum applicable to every bond, fund, DPA or structured product.

The source FAQ describes four broad categories of opportunities for wholesale and professional investors. Actual product availability changes over time.

Investments can also be grouped by how income is generated: interest, option premium, dividends and rent. Depending on website functionality, opportunities may be filtered by return range, term, capital-protection features, currency and coupon type.

Capital-protection clarification: A DPA does not inherently guarantee repayment of principal. Protection may be engineered into particular DPA series, subject to the precise contractual terms, issuer or counterparty creditworthiness and any conditions. For products involving prepaid loan interest, consult an accountant or tax adviser.

A structured product is a market-linked investment with a payout determined by pre-agreed conditions related to one or more underlying assets, such as shares, an equity index, gold or a basket. It may combine debt-like components and derivatives to target enhanced income, a defined market view, downside features or, in some designs, capital protection.

Key terms to understand

• Underlying assets: For example Nvidia, Tesla and Apple shares; the S&P/ASX 200; or a recognised gold price reference.
• Term and observation dates: The investment’s duration and dates when underlying performance is measured.
• Coupon: Fixed, conditional (paid if specified tests are met) or accumulated, as in some snowball structures.
• Strike and knock-in barrier: Reference levels, which may be expressed as percentages of an asset’s initial price, that influence whether and how investors can lose principal.
• Autocall, participation and protection: Conditions for automatic early redemption, upside participation or any contracted capital-protection feature.

Possible outcomes

• If the market rises, an investor may receive upside participation, early redemption or a defined payout.
• If the market stays in a specified range, coupons may be paid and the investment may continue to the next observation.
• If the market falls beyond defined levels, the repayment may be reduced and the investor may receive cash or shares worth less than the initial investment.

How is this different from a bond?

Main risks: Underlying asset and market risk, barrier risk, credit and counterparty risk, liquidity risk and early redemption risk. Structured products can be complex and many do not protect principal. They may be appropriate only for eligible investors who understand the payoff and can bear loss scenarios.

The source FAQs group investment income into four main categories: interest, option premium, dividends and rent. Payments are not necessarily guaranteed. “Fixed income” does not mean risk-free.

Fixed income investments may provide scheduled coupons, defined maturity dates and issuer diversification; some may be less volatile than equities in certain conditions. Risks depend on credit quality, duration, structure, liquidity and market conditions. Compare investment options using the source of income, total risk, term, liquidity and tax treatment rather than headline yields alone.

Candour Capital does not offer a single standard or guaranteed rate of return. Coupons and potential outcomes depend on the security, issuer, market conditions and contract terms. A headline coupon should not be confused with a guaranteed total return or a current offer.

The source FAQ included opportunity filters such as 6%–8%, 8%–12%, above 12%, and “floating/market-linked”. It also listed the following point-in-time examples:

These are historical figures for particular products and terms—not forecasts, benchmarks, advice or evidence of current availability. The source notes that many listed structured notes were fully subscribed. A quoted annualised coupon is not necessarily what an investor earns over a short product term.

Always review the current term sheet, risk disclosures, availability and actual cash-flow scenarios. Capital and income may be lost in adverse circumstances.

Bonds from the same issuer can carry different coupons because of their remaining term, ranking, structure, interest-rate basis and market conditions. Higher coupons often compensate for additional risks; they should not be interpreted as a better investment without comparing the terms.

Illustrations from the source

• Term: Alphabet’s August 2026 AUD senior tranches were cited at 5.20% for three years, 5.50% for five years, 6.25% for ten years and 6.90% for twenty years.
• Ranking: ANZ’s August 2026 five-year senior issue was cited at three-month BBSW + 66 basis points, versus a fifteen-year Tier 2 issue at BBSW + 157 basis points. Differences involve both ranking and term.
• Instrument type: The source cites UBS and BNP Paribas AUD AT1 instruments with coupons of 6.375%–7.125% p.a.; AT1 instruments can have discretionary/cancellable coupons and loss-absorption terms.

Issuer and bond ratings can differ. The source uses ANZ as an example: an Aa2/AA− issuer rating versus an A3 Moody’s rating for a Tier 2 instrument at that time.

Before comparing yields, check first call and reset dates, floating-rate formula, credit and instrument ratings, liquidity, currency, tax consequences, and portfolio exposure. Examples above are from the source’s August 2026 issuance commentary and should not be assumed current.

A conventional bond coupon is primarily paid in return for lending to an issuer. A Fixed Coupon Note (FCN) coupon is largely associated with embedded option exposure: investors accept downside risk linked to shares or another underlying asset. Therefore, the two headline percentages are not directly comparable.

Three points to examine

1. Annualised is not the return over the product term. A quoted 40.33% p.a. rate applied for three months is approximately 10.1% over that period, not 40.33%. Reinvestment at the same rate is not assured.
2. Higher coupons can reflect greater equity downside exposure. The source also cites a three-month note referencing SK Telecom, SK Hynix and Samsung at 33.17% p.a. with a 60% strike. The precise basket, barrier, tenor and observation terms matter.
3. Capital outcomes can differ substantially. If a reference share breaches the relevant trigger under the term sheet, investors may receive shares or cash worth less than the initial investment even if the note issuer has not defaulted. Any capital-protected design is subject to its terms and issuer/counterparty risk.

Candour Capital distinguishes bonds’ interest income from structured products’ option-premium-related income. All examples are product-specific historical illustrations, not promises of return or current investment offers.