LOL, the bank name also don't know, already want to push it to clients?

Without the "name", one never know the risk of it, disregard what is the rating.
Mind that rating can changed overnight, current rating mean nothing for the future.

Indicative coupon rate at 6%, when after deducting the potential admin fee, sales charges or whatever, it may mean the actual yield may be around 5.x%.

At 5.x% vs 4.5% FD, with extra risk involved (moderate high risk vs almost no risk), it seems not an attractive investment for individual, somemore it is a perpetual bond...

At 5.x%, it may be attractive for fund or big money, but not attractive for individual.

If really keen on bond investment, Bond fund/UT may be a better option as you get more diversify through the fund, instead of one lump sum into one bond.

Anyway not meant to discourage, just my personal pov.

Basic investing 101, clauses too complicated until have difficulty to understand fully, there is no need to commit.
There are lot of investment option out there nowadays.
or you have a "soft spot" for the RM? Just joking.

I don't see how it is a "retail" based bond, it is more like for sophisticated institutional investors with plenty of clauses and understanding needed.

Sadly to say, the "educational" part of local investment industry is still pretty weak.

We still see many RM or sales person in investment field who promote saving plan as FD already signaled there is a big gap need to fill up.

This hybrid bond definitely need more Q&A, FAQ to educate investors.

But, as always, personally I do wary/concern about new product in investment field.
As previously, bond defaulted generally already means bank goes under, but with the new hybrid bond, the bond may be defaulted without the bank goes under.

This is a huge different.
Mind that although Malaysia banks did weather the 2008 crisis well, because of 1997 crisis lesson.
If hybrid bond does exist during 1997, then there might be plenty of default that could result like what had happened on Lehman mini bond.

Just hope it doesn't repeat the history of "new product" in financial world, like MGS, minibond (that happened in subprime mess), SPAC (in stock market)

Anyway, appreciated the valuable explanation given, this hybrid bond definitely will be mushrooming in the near future.
But I still do not agree it should be marketed as "retail" based.