Commentary & Deal Flow

Reoffer: 15yr: SARON MS+38bp / 100 / 1.2475%
Benchmark: 15yr: Govt + 58.6

Spread set at: 15yr: SARON MS+38bp
IPTs: 15yr: SARON MS+38a

• Issuer: Queensland Treasury Corporation (Ticker: QTC)
• Guarantor: The Treasurer of the State of Queensland on behalf of The Government of Queensland
• Guarantor Domicile: Australia
• Domestic / Foreign: Foreign
• Format: Public Fixed-Rate Notes
• Ranking: Unsecured and Unsubordinated
• Guarantor Rating: Moody's: Aa1 (st.), S&P: AA+ (neg.)
• Instrument Rating (exp): Moody's: Aa1, S&P: AA+
• Issue Size: CHF 165m
• Coupon: 1.2475% p.a. (30/360, following unadj.)
• Maturity: 15 years (11-Jun-26 to 11-Jun-41)
• Spread/Yield: SARON MS +38.0 // YTM 1.2475% // Govt + 58.6
• Issue Price: 100.000%
• ISIN / Valor: CH1570819594 / 157081959
• Lead Manager(s): Deutsche Bank, UBS
• SNB Repo-eligibility: At the discretion of the SNB, expected yes (HQLA Level 1)
• Documentation: Off the Issuer’s U.S.$10,000,000,000 Euro Medium Term Note Facility ("Facility") dated 28-Jan-26
• FinSA Prospectus: Base prospectus is deposited with and recognised by the Swiss Prospectus Office pursuant to art. 54(2) FinSA.
• Governing Law: English law
• Covenants: Pari Passu, Cross Default (as per the Facility)
• Use of Proceeds: The net proceeds from the sale of the Notes will be used to finance the activities of the State of Queensland and its Government Bodies.
• SIX Listing: 09-Jun-26
• Denomination: CHF 100,000 and multiples thereof
• Selling Restrictions: As per the Facility. RegS TEFRA D Rules apply, no communications with or into the US or Canada.
• Target Market: Manufacturer target market (MiFID II/UK MIFIR product governance) is eligible counterparties and professional clients (all channels for distribution channels). Public Offering in Switzerland only.