Notification of interest payment & interest rate change
Announcement Summary
Entity name
WESTPAC BANKING CORPORATION
Security on which the Interest Payment will be paid
WBCHA - SUB BOND 3-BBSW+2.75% 23-8-22 RED T-08-17
Announcement Type
New announcement
Date of this announcement
Thursday August 25, 2016
Interest Payment Amount
AUD 1.1279
Ex Date
Monday November 14, 2016
Record Date
Tuesday November 15, 2016
Payment Date
Wednesday November 23, 2016
Additional Information
The Interest Rate was determined using the following formula:
Bank Bill Rate + Margin as follows:
Bank Bill Rate is the 90 day Bank Bill Rate on 23 August 2016: 1.7250%
+ Margin: 2.7500%
= Interest Rate: 4.4750% pa
The Interest on each Westpac Subordinated Note (WSN) was calculated as follows:
Interest Rate: 4.4750% pa x Face Value: AUD 100
x days in Interest Period: 92
/ 365
= Interest: AUD 1.1279, unfranked
Refer to below for full details of the announcement
Announcement Details
Part 1 - Entity and announcement details
Name of +Entity
WESTPAC BANKING CORPORATION
Registered Number Type
ABN
33007457141
Registration Number
ASX issuer code
WBC
The announcement is
New announcement
Date of this announcement
Thursday August 25, 2016
ASX +Security Code for Interest Payment
WBCHA
ASX +Security Description
SUB BOND 3-BBSW+2.75% 23-8-22 RED T-08-17
Part 2A - Interest period dates and interest payment details
Interest Rate Calendar Type
Rule 7(2), 7 calendar day
2A.1 Payment date
Wednesday November 23, 2016
2A.3 Ex-Date
Monday November 14, 2016
2A.5 Last day of payment period
Tuesday November 22, 2016
2A.7 Interest rate expressed as a per annum rate
4.475000 %
2A.9 Currency in which the interest payment is made ("primary currency")
AUD - Australian Dollar
2A.10 Interest payment amount per +security
AUD 1.12790000
2A.2 +Record Date
Tuesday November 15, 2016
2A.4 First day of payment period
Tuesday August 23, 2016
2A.6 Number of days in the payment period
92
2A.8 Interest rate pro-rated for the number of days in the payment period
1.127900 %
2A.10(i) Comment on how the interest payment amount per security is calculated
Refer to 4.3
2A.11 Are any of the below approvals required for the interest payment before business day 0 of the timetable?
Security holder approval Court approval
Lodgement of court order with +ASIC ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the timetable for the interest payment.
No
2A.12 Is the interest payment franked?
No
2A.13 Is the interest payment payable in the form of +securities rather than cash?
No
2A.14 Does the entity have arrangements relating to currency in which the interest payment is paid to security holders that it wishes to disclose to the market?
No
2A.15 Is there a principal amount payment component payable?
No
Part 3 - Floating rate +securities - details of interest rate applicable to the payment notified in Part 2A
Date interest rate is set
Tuesday August 23, 2016
Comments on how the date that interest rate is set is determined
First Business Day of the Interest Period
Interest base rate
1.7250 %
Comments on how interest base rate is set
90 day Bank Bill Rate on the first Business Day of the Interest Period. For more information, refer to the WSN Information Memorandum.
Interest margin
2.7500 %
Comments on how interest margin is set
Margin set at the time of issue of WSN and will not change. For more information, refer to the WSN Information Memorandum.
Any other rate/multiplier used in calculating interest rate
0.0000 %
Comments on how other rate used in calculating interest rate is set
Total interest rate expressed as a per annum rate
4.4750 %
Comment on how the total interest rate expressed as a per annum rate is set
Interest Rate = Bank Bill Rate + Margin
Part 4 - Further information
Please provide any further information applicable to this payment
Capitalised terms in this announcement have the meanings given in the WSN Information Memorandum.
URL link to a copy of the prospectus/PDS or further information about the +security
www.westpac.com.au/westpacsubnotes
Additional information for inclusion in the Announcement Summary
The Interest Rate was determined using the following formula:
Bank Bill Rate + Margin as follows:
Bank Bill Rate is the 90 day Bank Bill Rate on 23 August 2016: 1.7250%
+ Margin: 2.7500%
= Interest Rate: 4.4750% pa
The Interest on each Westpac Subordinated Note (WSN) was calculated as follows:
Interest Rate: 4.4750% pa x Face Value: AUD 100
x days in Interest Period: 92
/ 365
= Interest: AUD 1.1279, unfranked
Westpac Banking Corporation published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 06:44:03 UTC.
Original documenthttp://ir.iguana2.com/westpac/news-item?S=WBC&E=ASX&N=968298
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