Westpac Banking : Self-Funding Instalments over securities in IPL

Microsoft Word - SFI Div Announcement IPL 19 05 2016.doc

Structured Investments Level 11, Tower Two International Towers Sydney 200 Barangaroo Avenue

Barangaroo NSW 2000

Telephone: 1800 990 107 www.westpac.com.au/structuredinvestments

19 May 2016

Mr Martin Dinh

Warrant Administration Australian Securities Exchange Level 6, 20 Bridge St

Sydney NSW 2000

Dear Mr Dinh

Re: Westpac Self-Funding Instalments over securities in Incitec Pivot Limited (IPL)

Westpac Banking Corporation, as issuer of Self-Funding Instalments ("SFI") over the following securities, notifies of a distribution/entitlement in respect of those securities:

Distribution/Entitlement of Security

Securities	Incitec Pivot Limited (IPL)
Distribution/Entitlement	Interim dividend
Amount	$0.041 per security
Franking percentage	100%
Ex-distribution/Entitlement Date	23 May 2016
Record Date	24 May 2016
Payment Date	On or about 01 July 2016

As detailed in the applicable Product Disclosure Statement ("PDS"), SFI holders direct that dividends be applied to reduce the Completion Payment of the SFI. In addition, for SFIs issued under the PDS dated 30 December 2005, any refund of prepaid interest that follows from this reduction will also be applied to reduce the Completion Payment. The new Completion Payment/s will become effective from the ex-dividend date. The following SFIs will commence trading ex-dividend on the same date as the underlying securities are ex-dividend.

Resulting Change in Completion Payment for each Self Funding Instalment

ASX Code	Previous Completion Payment	Distribution applied to reduce Completion Payment	Interest Refund applied to reduce Completion Payment	New Completion Payment
IPLSWG	$1.8604	$0.0410	$0.0000	$1.8194
IPLSWR	$2.2453	$0.0410	$0.0000	$2.2043

For further information please contact Westpac Banking Corporation on 1800 990 107.

For and on behalf of Westpac Banking Corporation