Westpac Vanilla Instalment Equity Warrants
Supplementary Product Disclosure Statement
4 August 2016
to the Product Disclosure Statement dated 14 April 2014Issued by Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714
Introduction
This Supplementary Product Disclosure Statement dated 4 August 2016 (the SPDS) supplements the Westpac Vanilla Instalment Equity Warrants (Westpac VIEWs) Product Disclosure Statement dated
14 April 2014 (the Original PDS) as previously supplemented by the SPDS dated 27 November 2015.
This SPDS should be read with the Original PDS. Together they form the Product Disclosure Statement (the PDS) for Westpac VIEWs. The information contained in this SPDS combines, replaces and supersedes the previous SPDS. This SPDS is also available on Westpac's website at www.westpac.com.au/structuredinvestments.
Terms defined in the Original PDS have the same meaning in this SPDS, unless the context requires otherwise.
This SPDS:
provides details of the individual Series of Westpac VIEWs;
identifies in bold and marked (*) in the Summary Table below details of the new Series of Westpac VIEWs (New Westpac VIEWs);
updates wording in the Original PDS in relation to Underlying Securities and Listed Entities;
updates wording in the Original PDS in relation to tax considerations;
updates wording in the Original PDS to reflect that Net Nominees Limited, the Security Trustee, is no longer an Authorised Representative of Westpac; and
removes references to the requirement for ASX consent (where previously applicable) in relation to the exercise of Westpac's discretion to amend or adjust the Terms of the Westpac VIEWs or a Series of Westpac VIEWs, to reflect changes to the ASX Operating Rules.
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Summary Table
Set out below is the consolidated Summary Table of the Series of Westpac VIEWs on offer. This Summary Table combines, replaces and supersedes all previous summary tables in respect of the Series referred to in the table below. The details for the New Westpac VIEWs are highlighted in bold and marked (*).
Underlying Securities ASX Code
Relevant Listed Entity
ASX Code
Loan Amount (Completion Payment)
Minimum number of Securities for Securityholder Applications
Date of PDS or SPDS under which VIEWs were Issued
Completion Date
Issue Size
ANZ
Australia and New Zealand Banking Group Limited
ANZIWG
$19.5000
125
27/11/2015
30/03/2017
10 million
BHP
BHP Billiton Limited
BHPIWG
$14.0000
170
27/11/2015
30/03/2017
10 million
CBA
Commonwealth Bank of Australia
CBAIWF
$61.2444
40
28/07/2015
31/08/2016
10 million
CBA
Commonwealth Bank of Australia
CBAIWH*
$52.0000
50
4/08/2016
29/09/2017
10 million
CBA
Commonwealth Bank of Australia
CBAIWI*
$37.4000
70
4/08/2016
29/09/2017
10 million
IHD
iShares S&P/ ASX Dividend Opportunities ETF
IHDIWG
$9.7000
250
27/11/2015
30/03/2017
10 million
IOZ
iShares Core S&P/ASX 200 ETF1
IOZIWG
$15.4000
160
27/11/2015
30/03/2017
10 million
NAB
National Australia Bank Limited
NABIWG
$20.0250
110
27/11/2015
30/03/2017
10 million
RIO
Rio Tinto Limited
RIOIWG
$34.0000
70
27/11/2015
30/03/2017
10 million
SUN
Suncorp Group Limited
SUNIWG
$9.2000
280
27/11/2015
30/03/2017
10 million
SYD
Sydney Airport
SYDIWH*
$5.0000
500
4/08/2016
29/09/2017
10 million
SYD
Sydney Airport
SYDIWI*
$3.5500
700
4/08/2016
29/09/2017
10 million
TCL
Transurban Group
TCLIWH*
$8.4000
300
4/08/2016
29/09/2017
10 million
TCL
Transurban Group
TCLIWI*
$6.0000
400
4/08/2016
29/09/2017
10 million
TLS
Telstra Corporation Limited
TLSIWF
$4.5200
565
28/07/2015
31/08/2016
10 million
TLS
Telstra Corporation Limited
TLSIWH*
$4.0000
650
4/08/2016
29/09/2017
10 million
TLS
Telstra Corporation Limited
TLSIWI*
$2.8500
900
4/08/2016
29/09/2017
10 million
WES
Wesfarmers Limited
WESIWG
$27.5000
90
27/11/2015
30/03/2017
10 million
WPL
Woodside Petroleum Limited
WPLIWG
$21.0000
120
27/11/2015
30/03/2017
10 million
1. iShares Core S&P/ASX 200 ETF was previously named iShares S&P/ASX 200 ETF.
Note:The minimum application amounts apply as follows:
Cash Applicants - the total First Payment must be $2,000 or greater;
Securityholder Applicants - as specified in the Summary Table;
Rollover Applicants - the minimum value of the warrants being rolled over must be $2,000. Westpac may waive these minimum amounts in exceptional circumstances.
There is no minimum issue size. The issue size per Series is currently 10 million.
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Key Dates
The Completion Date for each Westpac VIEW ending in the letter 'F' is set out in the table below.
Completion Date 31 August 2016The Completion Date for each Westpac VIEW ending in the letter 'G' is set out in the table below.
Completion Date 30 March 2017The Completion Date for each Westpac VIEW ending in the letter 'H' is set out in the table below.
Completion Date 29 September 2017The Completion Date for each Westpac VIEW ending in the letter 'I' is set out in the table below.
Completion Date 29 September 2017How to Apply
You can apply for the Westpac VIEWs offered under this SPDS by completing the relevant Application Form accompanying the PDS.
Trading on the ASX
The New Westpac VIEWs will commence trading on the ASX on a normal settlement basis on 4 August 2016.
Underlying Securities and Listed Entities
In the Investment Overview Table on page 2 of the Original PDS, the first sentence in the section What are the Underlying Securities? section is deleted and replaced with:
"The Underlying Securities are shares in ASX-listed companies, units in ASX-listed unit trusts and ASX-quoted exchange traded funds."
In Section 9 of the Original PDS, the definition of Listed Entity on page 56 is deleted and replaced with: "Listed Entity means:
an entity (including a trust) listed on the ASX; or
an exchange traded fund quoted on the ASX,
the securities of which are the subject of Westpac VIEWs."
Tax Considerations
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(a) Instalment Warrants
The final three paragraphs of Section 3 and the first paragraph of Section 6.1 of the general summary of the taxation implications for investing in Westpac VIEWs contained in a letter issued by Ashurst in Section 6 of the Original PDS (Tax Letter) refer to the Government's intention to amend the law in relation to instalment warrants.
The income taxation look through treatment for instalment warrants and similar arrangements received royal assent on 16 September 2015 and is now contained in Subdivision 235-I of the Income Tax Assessment Act 1997 (1997 Tax Act) with application from the 2007-2008 income year and later income years.
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Westpac Banking Corporation published this content on 04 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 August 2016 08:10:04 UTC.
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