Latham, who was set to lead the side in Mitchell Santner’s absence due to IPL commitments, sustained the injury earlier this week. X-rays later confirmed the severity of the fracture.
Wicketkeeper Mitch Hay will replace Latham behind the stumps, while Bracewell, who led New Zealand in the T20I series, will continue as captain.
Additionally, Will Young will exit the squad after the first ODI in Napier to be present for the birth of his first child.
To cover for him, uncapped 23-year-old batter Rhys Mariu, who boasts an impressive first-class average of 61.73, has received his maiden call-up.