AUI intends to raise up to $30 million through the notes, which it will use to expand its portfolio of retirement village properties.
The notes offer a fixed rate of interest on a quarterly basis, with the principal repaid at maturity of the specified term.
There are three terms: three years at 8 per cent a year, five years at 8.25 per cent and seven years at 8.5 per cent.
The notes are based on income from three New South Wales retirement villages, Constitution Hill, Karagi Court and Kiah Lodge, which are managed by Australian Unity.
"Investors are still seeking safety and security, and many have turned to cash and term deposits," AUI head David Bryant said.
"The RVIN is an attractive alternative with a successful track record, paying a good return through regular quarterly instalments."
Retirement villages were largely immune to market and economic cycles, and continued to be in high demand, he said.
The minimum investment amount is $5000 with an issue price of $1 per note. There are no entry, exit or ongoing fees, and reinvestment of interest is not available.
The notes opened for investment on 12 February and closes on 31 March.
