<PAGE>
Pursuant to Rule 424(b)(3)
File No. 333-84977
US$994,000,000
CRUSADE GLOBAL TRUST NO. 1 OF 1999
CRUSADE MANAGEMENT LIMITED (ACN 072 715 916)
Manager
ST.GEORGE BANK LIMITED (ACN 055 513 070)
Seller and Servicer
AXA TRUSTEES LIMITED (ACN 004 029 841)
Issuer Trustee
The notes will be collateralised by a pool of housing loans secured by
properties located in Australia. The Crusade Global Trust No. 1 of 1999 will be
governed by the laws of New South Wales, Australia.
The notes are not deposits and neither the notes nor the underlying housing
loans are insured or guaranteed by any governmental agency or instrumentality.
The notes represent obligations of the Crusade Global Trust No. 1 of 1999 only
and do not represent obligations of or interests in, and are not guaranteed by,
Crusade Management Limited, St.George Bank Limited or AXA Trustees Limited.
An application has been made to the London Stock Exchange Limited to admit
the Class A-1, Class A-2 and Class A-3 notes to the Official List. THE
PROSPECTUS DATED SEPTEMBER 17, 1999, INCLUDING APPENDIX I, AND THIS PAGE
TOGETHER CONSTITUTE LISTING PARTICULARS WITH REGARD TO THE ISSUER TRUSTEE AND
THE CLASS A-1, CLASS A-2 AND CLASS A-3 NOTES, AND HAVE BEEN APPROVED BY THE
LONDON STOCK EXCHANGE LIMITED ON SEPTEMBER 22, 1999. SINCE SEPTEMBER 17, 1999,
THERE HAS BEEN NO CHANGE TO THE INFORMATION CONTAINED IN THE PROSPECTUS DATED
SEPTEMBER 17, 1999.
INVESTING IN THE NOTES INVOLVES RISKS. SEE "RISK FACTORS" ON PAGE 18.
<TABLE>
<CAPTION>
INITIAL INITIAL UNDERWRITING PROCEEDS
PRINCIPAL INTEREST PRICE TO DISCOUNTS AND TO ISSUER
BALANCE RATE PUBLIC COMMISSIONS TRUSTEE
<S> <C> <C> <C> <C> <C>
Class A-1 Notes $300,000,000 LIBOR+0.25% 100.0000% 0.1000% 99.9000%
Class A-2 Notes $569,000,000 LIBOR+0.33% 100.0000% 0.1600% 99.8400%
Class A-3 Notes $125,000,000 LIBOR+0.42% 100.0000% 0.2245% 99.7755%
Total $994,000,000 $994,000,000 $1,491,025 $992,508,975
</TABLE>
Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these notes or determined if this
prospectus is accurate or complete. Any representation to the contrary is a
criminal offense.
CREDIT SUISSE FIRST BOSTON
DEUTSCHE BANC ALEX. BROWN
J.P. MORGAN & CO.
The date of this prospectus is September 22, 1999
