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 />
Issuer Redemption Rights<br />
Conversion into Ordinary<br />
Shares<br />
Secured or Unsecured<br />
Ranking in Winding-Up<br />
Accounting Treatment<br />
With APRA’s prior written approval in certain limited circumstances.<br />
Mandatory conversion into <strong>Westpac</strong> ordinary shares on 30 September 2014<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 />
Convertible Preference Shares (CPS)<br />
Instrument<br />
Face Value<br />
Listing<br />
Regulatory Capital<br />
Classification<br />
Fully paid, perpetual, convertible, unguaranteed and unsecured preference shares<br />
issued by <strong>Westpac</strong>.<br />
AUD 1,189 million<br />
Listed on ASX (WBCPC)<br />
Additional Tier 1 Capital<br />
Issue Date 23 <strong>March</strong> 2012<br />
Dividends<br />
Dividend Rate<br />
Dividend Payments<br />
Franked Dividends<br />
Step-Up Date<br />
Holder Redemption Rights<br />
Issuer Redemption Rights<br />
Conversion into Ordinary<br />
Shares<br />
Secured or Unsecured<br />
Preferred, non-cumulative floating rate dividends, subject to certain dividend<br />
payment conditions including <strong>Westpac</strong> having sufficient distributable profits.<br />
(180 day bank bill rate + 3.25% p.a.) x (1- tax rate)<br />
Semi-annually in arrears (31 <strong>March</strong> and 30 September).<br />
Expected to be fully franked<br />
None<br />
None<br />
<strong>Westpac</strong> may redeem the CPS on an optional conversion / redemption date, which<br />
is any dividend payment date falling on or after 31 <strong>March</strong> 2018, or in certain limited<br />
circumstances, with APRA’s prior written approval.<br />
Conversion into <strong>Westpac</strong> ordinary shares on 31 <strong>March</strong> 2020 (subject to the<br />
satisfaction of the conversion conditions), upon the occurrence of a capital trigger<br />
event or in certain other specified circumstances.<br />
Unsecured<br />
Ranking in Winding-Up<br />
Accounting Treatment<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 />
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