Westpac Group Pillar 3 Report March 2013 - Iguana IR Sites

PILLAR 3 REPORT
APPENDIX III - CAPITAL INSTRUMENTS
Tier 2 Capital Instruments
Subordinated undated capital notes
Issue date
Terms and conditions and main features
30 September 1986 USD 352 million. These notes have no final maturity but may, subject to the
approval of APRA and subject to certain other conditions, be redeemed at par at
the option of Westpac. The rights of the noteholders and coupon holders are
subordinated to the claims of all creditors (including depositors) of Westpac other
than those creditors whose claims against Westpac are expressed to rank equally
with or after the claims of the noteholders and coupon holders. Interest is
cumulative and is payable on the notes semi-annually, subject to Westpac being
solvent immediately after making the payment and having paid any dividend on any
class of share capital of Westpac within the prior 12 month period. The notes pay a
floating rate of interest at a margin of 15 basis points above 6 month US LIBOR.
Subordinated capital notes
Issue date
Terms and conditions and main features
28 October 2002 GBP 200 million subordinated notes due 2018. The notes pay a fixed rate coupon
of 5.875%. The notes can be redeemed on 29 April 2013, or any quarterly interest
payment date thereafter. If the notes are not called on 29 April 2013, they will
continue until maturity on a floating rate.
21 May 2003 USD 350 million subordinated notes due 2018. The notes pay a fixed rate coupon
of 4.625%.
16 October 2003 1 USD 400 million subordinated notes due 2015. The notes pay a fixed rate coupon
of 5.3%.
15 December 2005 USD 75 million subordinated notes due 2015. The notes pay a fixed rate coupon of
5.0%.
9 April 2008 AUD 160 million subordinated notes due 2018. $125 million of the notes pay a fixed
rate coupon of 9.25% and the remaining $35 million pay a floating rate coupon. The
notes can be redeemed on 9 April 2013, or any quarterly interest payment date
thereafter. If the fixed rate notes are not called on 9 April 2013, they will continue
until maturity on a floating rate.
9 April 2008 AUD 500 million subordinated notes due 2018. The notes pay a floating rate
coupon. They can be redeemed on 9 April 2013 or any quarterly interest payment
date thereafter.
9 May 2008 1 AUD 625 million subordinated notes due 2018. The notes pay a fixed coupon of
10.0%. The notes can be redeemed on 9 May 2013, or any quarterly interest
payment date thereafter. If the notes are not called on 9 May 2013, they will
continue until maturity on a floating rate.
9 May 2008 1 AUD 125 million subordinated notes due 2018. The notes pay a floating rate
coupon. The notes can be redeemed on 9 May 2013, or any quarterly interest
payment date thereafter.
21 March 2012 AUD 500 million subordinated notes due 2022. The notes pay a floating rate
coupon. The notes can be redeemed on 21 March 2017. If the notes are not
redeemed, they will continue until maturity on a floating rate.
23 August 2012 AUD 1,676 million subordinated notes due 2022. The notes pay a floating rate
coupon. The note can be redeemed on 23 August 2017, or any quarterly interest
payment date thereafter.
28 August 2012 USD 800 million subordinated notes due 2023. The notes pay a fixed rate coupon
of 3.625%. The notes can be redeemed on 28 February 2018, or any semi-annual
interest payment date thereafter.
1 Originated by the former St.George Bank.
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