AMP Limited refers to the $250 million subordinated and unsecured notes issued by AMP Bank Limited (AMP Bank) on 1 December 2018 to AMP Limited, with a maturity date of 1 December 2027 (Notes) and an optional call date on 1 March 2024. In accordance with the terms of the Notes, AMP Bank has given notice to AMP Limited that it will redeem all the Notes on 1 March 2024. As these Notes have passed their first optional call date and are due to mature in four years' time from 1 December 2023, AMP Limited was holding a capital deduction of 80% of the original face value ($200 million) in the Group and Other segment.