WSTP 4.000% 12Aug2027 Corp (SGD)

Bond Factsheet

Matured/ Called

Westpac Banking Corp

Indicative

Full Lot

Bid Price

99.900

Change in Bid Price

Bid Yield (%)

4.158 %

Change in Bid Yield

Ask Price

100.100

Change in Ask Price

Ask Yield (%)

3.944 %

Change in Ask Yield

Indicative price as of 16 Aug 2022, 12:00am

chevron_leftchevron_right

Bond Information

Westpac Banking Corporation provides banking services. The Bank offers accounts checking, savings deposits, money market, mortgage, and term loans services, as well as card facilities and internet banking services. Westpac Banking serves customers worldwide.

Bond Issuer

Westpac Banking Corp

Guarantor

Announcement Date

04 Aug 2015

Issue Date

12 Aug 2015

Maturity Date

12 Aug 2027

Years to Maturity / Next Call

0.858 / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.000

Coupon Type

Variable

Annual Coupon Rate

4.000

Coupon Frequency

Semi Annually

Seniority

Subordinated

Capital Structure

Subordinated

Reference Rate

Reset Rate = 5Yr SGD SOR + 1.540%

Reset Date = 12Aug2022

ISIN

XS1273972957

CUSIP

UV4390398

Bond Currency

SGD

Total Issue Size

325,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ A+

Bond Credit Rating (S&P/ Fitch)

***/ A-

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Loss Absorption

Upon a Non-Viability Trigger Event occurring, the Issuer may be required to Convert all or some Subordinated Notes (or a percentage of the Outstanding Principal Amount of each Note) into Ordinary Shares (subject to a Maximum Conversion Number), or if Conversion does not occur for any reason within 5 ASX Business Days following the occurrence of the Non-Viability Trigger Event, Write-off Subordinated Notes and, in each case, Holders rights will be terminated, including any rights to unpaid interest or Additional Amounts and repayment of principal. In respect of Conversion, Condition 6.10 includes a provision that enables the sale of shares, on Conversion, for cash, subject to possible Write-off.

Non-Viability Trigger Event: A Non-Viability Trigger Event will occur when APRA notifies the Issuer in writing that it believes:

Conversion or Write-off of all or some Subordinated Notes or conversion or write down of all or some of the capital instruments of the Westpac Group is necessary because, without it, the Issuer would become non-viable; or
a public sector injection of capital, or equivalent support, is necessary because, without it, the Issuer would become non-viable.

Issuer Call

Issuer call option on 12 August 2022 and every interest payment date thereafter. and also redemption upon tax and/or regulatory event, each subject to prior written APRA approval.

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.