Obverse
The 500-piso note bears the portrait of Senator Benigno "Ninoy" S. Aquino Jr. as well as scenes and representative objects from his life as a journalist, war correspondent, mayor, provincial governor and senator. The senator inspired the peaceful People Power Revolution that restored democracy in the country. Has a concealed numerical value and micro-printing of "Central Bank of the Philippines" below the serial number in the lower left face of the note. "Ang Salaping ito ay bayarin ng Bangko Sentral at pinananagutan ng Republika ng Pilipinas" "Republika ng Pilipinas" "Limandaang Piso"
Reverse
On the reverse are images of unity, peace and reconciliation during the revolution that left indelible impressions on the rest of the world. "Bangko Sentral ng Pilipinas" "Limandaang Piso" "500"
Security Features
Portrait watermark that can be seen when viewed against the light. Broken security thread arranged in a vertical line. Red and blue visible fibers all over the note and invisible fluorescent printing
Added Security Features (Start of Release - )
The windowed security thread is a narrow security thread vertically located like “stitches” at the face of the note with cleartext of the numerical value in repeated sequence and changes in color from magenta to green or green to magenta depending on the angle of view.
Note
500 Piso banknotes featuring President Marcos designed by Romeo "Romi" Castillo MananQuil were ordered to be destroyed by the new government and redesigned in honor of Senator Benigno "Ninoy" S. Aquino Jr.. The 500 Piso New Design Series Banknotes designed by Rafael Asunsion were originally issued as commemorative banknotes on ; it pays tribute to the 4th Death Anniversary of Senator Benigno "Ninoy" S. Aquino Jr.
Note 2
Sometimes BSP can't meet the demand thus some year are printed by an overseas Printer.
Remarks
New Design Series was considered demonetized after pursuant to BSP Circular No. 863, 910, 935, 954, 977