Commonwealth Bank of Australia issued a new  AUD1 billion ($1.03 billion) prime RMBS from its Medallion trust series.

The deal, which is rated by Standard & Poor's, will offer investors  AUD751 million Class A1 notes, rated 'AAA'; AUD175 million Class A2 notes, rated 'AAA'; AUD36 million Class AB notes rated 'AAA' and AUD18 million class AC notes rated 'AAA'. The Class A2 notes are structured as fixed interest, non-amortizing notes until the A2 refinancing date. No principal is paid to the class A2 note prior to the A2 refinancing date, which is on approximately the fifth anniversary of the notes.

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