Last week, ANZ announced it would be offering to buy back its ANZ CPS 3 hybrids (ASX code: ANZPC) and issuing around $1 billion worth of ANZ Capital Notes 5 (ASX code: ANZPH). ANZ has now announced the margin above BBSW for distribution payments on the new capital notes. As has been the usual practice in recent years, the margin has been set at the lower bound of the range....