WESTPAC BANKING CORPORATION Structured Investments Level 11, Tower Two International Towers Sydney
200 Barangaroo Avenue
Barangaroo NSW 2000
Telephone: 1800 990 107 www.westpac.com.au/structuredinvestments
4 February 2016
Ms Charmaine Breadon Warrant Administration Australian Securities Exchange Level 6, 20 Bridge St
Sydney NSW 2000 Dear Ms Breadon,
Re: Westpac Vanilla Instalment Equity Warrants over securities in National Australia Bank Limited (NAB) - Demerger of CYBG PLC (CYBG)Westpac Banking Corporation ("Westpac") is the issuer of the following Westpac Vanilla Instalment Equity Warrants ("VIEWs") over securities in NAB:
As issuer, Westpac notifies an adjustment to the Completion Payment in respect of those VIEWs: At meetings held on 27 January 2016, shareholders of NAB approved the in-specie distribution of
CYBG PLC shares to shareholders of NAB ("Demerger"). As a result of the Demerger, shareholders of NAB were entitled to 1 share in CYBG PLC for every 4 shares they hold in NAB. On the ASX the CYBG PLC shares trade as CHESS Depositary Interests (CDIs). Under the Terms of Issue of the above warrants, Westpac has sold the CYBG CDIs at an average price of $3.90 per CDI. As a result, holders will have their Completion Payment reduced by $0.9750 per warrant.
ASX Code | Previous Completion Payment | Proceeds of sale of CYBG CDIs applied to reduce Completion Payment | New Completion Payment |
NABIWG | $21.0000 | $0.9750 | $20.0250 |
The new Completion Payment will become effective immediately. The VIEWs outlined above will commence trading on an adjusted basis on 5 February 2016.
For further information please contact Westpac on 1800 990 107.
Westpac Banking Corporation issued this content on 04 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 February 2016 05:58:03 UTC
Original Document: http://ir.iguana2.com/westpac/news-item?S=WBC&E=ASX&N=904734
