Westpac Group Pillar 3 Report March 2013 - Iguana IR Sites
Westpac Group Pillar 3 Report March 2013 - Iguana IR Sites
Westpac Group Pillar 3 Report March 2013 - Iguana IR Sites
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PILLAR 3 REPORT<br />
APPENDIX III - CAPITAL INSTRUMENTS<br />
Stapled Preferred Securities (SPS)<br />
Instrument<br />
Face Value<br />
Listing<br />
Regulatory Capital<br />
Classification<br />
Stapled preferred securities each consisting of one preference share and one<br />
note issued by <strong>Westpac</strong>.<br />
AUD 1,036 million<br />
Listed on ASX (WBCPA)<br />
Additional Tier 1 Capital<br />
Issue Date 30 July 2008<br />
Distributions<br />
Preferred, non-cumulative floating rate distributions, subject to certain distribution<br />
payment conditions including <strong>Westpac</strong> having sufficient distributable profits.<br />
Distribution Rate<br />
Distribution Payments<br />
Franked Distributions<br />
Step-Up Date<br />
Holder Redemption Rights<br />
Issuer Redemption Rights<br />
Conversion into Ordinary<br />
Shares<br />
Secured or Unsecured<br />
Ranking in Winding-Up<br />
Accounting Treatment<br />
(90 day bank bill rate + 2.4% p.a.) x (1- tax rate)<br />
Quarterly in arrear (31 <strong>March</strong>, 30 June, 30 September & 31 December)<br />
Expected to be fully franked<br />
None<br />
None<br />
With APRA’s prior written approval in certain limited circumstances.<br />
Mandatory conversion into <strong>Westpac</strong> ordinary shares on 26 September <strong>2013</strong><br />
(subject to the satisfaction of the conversion conditions) or in certain other<br />
specified circumstances.<br />
Unsecured<br />
Rank in priority to <strong>Westpac</strong> ordinary shares and equally with equal ranking capital<br />
securities but behind all senior creditors and depositors.<br />
Liability - Loan Capital<br />
Stapled Preferred Securities II (SPS II)<br />
Instrument<br />
Face Value<br />
Listing<br />
Regulatory Capital<br />
Classification<br />
Stapled preferred securities each consisting of one preference share and one<br />
note issued by <strong>Westpac</strong>.<br />
AUD 908 million<br />
Listed on ASX (WBCPB)<br />
Additional Tier 1 Capital<br />
Issue Date 31 <strong>March</strong> 2009<br />
Distributions<br />
Distribution Rate<br />
Distribution Payments<br />
Franked Distributions<br />
Preferred, non-cumulative floating rate distributions, subject to certain distribution<br />
payment conditions including <strong>Westpac</strong> having sufficient distributable profits.<br />
(90 day bank bill rate + 3.8% p.a.) x (1- tax rate)<br />
Quarterly in arrear (31 <strong>March</strong>, 30 June, 30 September & 31 December)<br />
Expected to be fully franked<br />
Step-Up Date<br />
Holder Redemption Rights<br />
None<br />
None<br />
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