FINAL TERMS 1 November 2017 Commonwealth Bank of Australia ABN 48 123 123 124 Issue of USD 50,000,000 Callable Zero Coupon Notes due 2047 under the U.S.$70,000,000,000 Euro Medium Term Note Programme Part A Contractual Terms Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Programme Circular dated 3 July 2017 and as supplemented on 14 August 2017 and 12 September 2017 respectively, which constitutes a Base Prospectus for the purposes of the Prospectus Directive (the Programme Circular ). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Programme Circular. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Programme Circular. The Programme Circular has been published on the website of the Regulatory News Service operated by the London Stock Exchange at http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html. 1. Issuer: Commonwealth Bank of Australia 2. (i) Series of which Notes are to be treated as forming part: 6243 (ii) Tranche Number: 1 (iii) Date on which the Notes will be consolidated and form a single Series: Not applicable 3. Specified Currency or Currencies: United States Dollars ( USD ) 4. Aggregate Nominal Amount: (i) Series: USD 50,000,000 (ii) Tranche: USD 50,000,000 5. Issue Price of Tranche: 100.00 per cent. of the Aggregate Nominal Amount 6. (i) Specified Denominations: USD 1,000,000 (ii) Calculation Amount (in relation to calculation of interest on Notes in global form see Conditions): Specified Denomination 7. (i) Issue Date: 2017 (ii) Interest Commencement Date: 8. Maturity Date: 2047, subject to early redemption
9. Interest Basis: Zero Coupon (see paragraph 15 below) 10. /Payment Basis: Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 343.088665 per cent. of their nominal amount. 11. Change of Interest Basis: 12. Put/Call Options: Issuer Call (see paragraph 16 below) PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE 13. Fixed Rate Note Provisions 14. Floating Rate Note Provisions 15. Zero Coupon Note Provisions Applicable (i) Accrual Method: Compounding Accrual (ii) Accrual Yield: 4.195 per cent. per annum (iii) Reference Amount: USD 1,000,000 (iv) Day Count Fraction in relation to Zero Coupon Notes: Conditions 5(d) and 6(e) apply 30/360, unadjusted PROVISIONS RELATING TO REDEMPTION 16. Issuer Call: Applicable (i) Date(s): The Issuer has the right to call the Notes, in whole but not in part, on each Date as set out in the table below. (ii) Amount: Condition 6(c) shall apply. The Amount per Calculation Amount payable on each Date is set out in the table below: Date Call Price (expressed as a percentage of the Calculation Amount) Amount per Calculation Amount (USD) 2024 2025 133.330084% 1,333,300.84 138.923281% 1,389,232.81 2
Date Call Price (expressed as a percentage of the Calculation Amount) Amount per Calculation Amount (USD) 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 144.751113% 1,447,511.13 150.823422% 1,508,234.22 157.150464% 1,571,504.64 163.742926% 1,637,429.26 170.611942% 1,706,119.42 177.769113% 1,777,691.13 185.226528% 1,852,265.28 192.996780% 1,929,967.80 201.092995% 2,010,929.95 209.528846% 2,095,288.46 218.318582% 2,183,185.82 227.477046% 2,274,770.46 237.019708% 2,370,197.08 246.962685% 2,469,626.85 257.322769% 2,573,227.69 268.117460% 2,681,174.60 279.364987% 2,793,649.87 3
Date Call Price (expressed as a percentage of the Calculation Amount) Amount per Calculation Amount (USD) 2043 2044 2045 2046 291.084348% 2,910,843.48 303.295337% 3,032,953.37 316.018576% 3,160,185.76 329.275555% 3,292,755.55 (iii) If redeemable in part: (iv) (a) Minimum Amount: (a) Maximum Amount: Notice period (if other than as set out in the Conditions): Not less than five London, New York and Sydney Business Days prior to each Date. Where: London, New York and Sydney Business Day means a day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealing in foreign exchange and foreign currency deposits) in each of London, New York and Sydney. 17. Investor Put: 18. Final Amount: USD 3,430,886.65 per Calculation Amount 19. Early Amount payable on redemption for taxation reasons or on event of default: Condition 6(f) shall apply GENERAL PROVISIONS APPLICABLE TO THE NOTES 20. Form of Notes: Bearer Notes: Temporary Bearer Global Note exchangeable for a Permanent Bearer Global Note which is exchangeable for Definitive Notes upon an Exchange Event 21. Payment Business Day Convention: Modified Following Business Day Convention 22. Additional Financial Centre(s) or other special London, New York and Sydney 4
provisions relating to Payment Dates: 23. Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature): No. PROVISIONS APPLICABLE TO RMB NOTES 24. RMB Currency Event: 25. Spot Rate (if different from that set out in Condition 7(l)): 26. Party responsible for calculating the Spot Rate: 27. Relevant Currency (if different from that in Condition 7(l)): 28. RMB Settlement Centre(s): DISTRIBUTION 29. Additional selling restrictions: Signed on behalf of Commonwealth Bank of Australia: By:. Title: :. Duly authorised 5
Part B Other Information 1. LISTING AND ADMISSION TO TRADING (i) Listing and admission to trading: (ii) Estimate of total expenses related to admission to trading: Application is expected to be made by the Issuer (or on its behalf) for the Notes to be admitted to trading on the London Stock Exchange s regulated market and, to be listed on the Official List of the UK Listing Authority with effect from 2017. GBP 1,750 2. RATINGS Ratings: The Notes to be issued are expected to be rated: S&P : AA- Moody s : Aa3 3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE Save for any fees payable to Morgan Stanley & Co. International plc (the Dealer ), so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Dealer and its affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary course of business. 4. YIELD 5. OPERATIONAL INFORMATION (i) ISIN: XS1708434953 (ii) Common Code: 170843495 (iii) CMU Instrument number: (iv) Any clearing system(s) other than Euroclear and Clearstream, Luxembourg and the relevant identification number(s): (v) CMU Lodging and Paying Agent: (vi) Delivery: Delivery against payment (vii) Names and addresses of additional Paying Agent(s) (if any): 6
(viii) U.S. Selling Restrictions: Reg.S Compliance Category 2; TEFRA D (ix) Prohibition of Sales to EEA Retail Investors: Not applicable 7