PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
ABN 33 007 457 141
Trust Preferred Securities 2004 (TPS 2004)
1
Issuer
Westpac Capital Trust IV
2
Unique identifier (eg CUSIP, ISIN or Bloomberg
identifier for private placement)
3
Governing law(s) of the instrument
144A: US96122CAA27
Reg S: USU96100AA73
Delaware, New York and NSW
Regulatory treatment
4
Transitional Basel III rules
Additional Tier 1
5
Post-transitional Basel III rules
Ineligible
6
Level 1&2
9
Eligible at solo(Level 1)/group (Level 2)/group & solo
(Level 1&2)
Instrument type (ordinary shares/preference
shares/subordinated notes/other)
Amount recognised in Regulatory Capital (Currency
in mil, as of most recent reporting date)
Par value of instrument
USD1,000
10
Accounting classification
Liability - amortised cost
11
Original date of issuance
5 April 2004
12
Perpetual or dated
Perpetual
13
Original maturity date
No maturity
14
Issuer call subject to prior supervisory approval
Yes
15
Optional call date, contingent call dates and
redemption amount
16
Subsequent call dates, if applicable
31 March 2016
Tax and regulatory calls
Redemption at par, except for a make whole
special event call, where redemption is the
greater of par or the make whole redemption
price
Each payment date after 31 March 2016
7
8
Trust preferred securities
AUD613 million
Coupons/dividends
17
Fixed or floating dividend/coupon
Fixed to floating
18
Coupon rate and any related index
19
Existence of a dividend stopper
5.256% per annum up to but excluding 31
March 2016, and
USD LIBOR + 1.7675 % per annum from and
including 31 March 2016
Yes
20
Fully discretionary
21
Fully discretionary, partially discretionary or
mandatory
Existence of step up or other incentive to redeem
22
Noncumulative or cumulative
Non-cumulative
23
Convertible or non-convertible
Convertible
24
If convertible, conversion trigger (s)
31 March 2053
Yes
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
Westpac discretion
Failure to pay
Change of control of trusts
Event of default
Dissolution
APRA events (under a contractual approach)
Appointment of a statutory manager New
Zealand laws (under a contractual approach)
31 March 2054 – optional holder right to
convert Westpac preference shares into
Westpac ordinary shares
Always convert fully
25
If convertible, fully or partially
26
If convertible, conversion rate
27
If convertible, mandatory or optional conversion
28
If convertible, specify instrument type convertible into
29
Westpac Banking Corporation
30
If convertible, specify issuer of instrument it converts
into
Write-down feature
31
If write-down, write-down trigger(s)
N/A
32
If write-down, full or partial
N/A
33
If write-down, permanent or temporary
N/A
34
N/A
35
If temporary write-down, description of write-up
mechanism
Position in subordination hierarchy in liquidation
(specify instrument
type immediately senior to instrument)
36
Non-compliant transitioned features
Yes
37
If yes, specify non-compliant features
No Basel III loss absorption features
Step up features
Each trust preferred security will be
exchanged for one American Depositary
Receipt representing 40 Westpac preference
shares
Each Westpac preference share may convert
into USD25 value of Westpac ordinary
shares subject to a 5% conversion discount
on 31 March 2054
Optional or mandatory
Optional for holder right of conversion into
ordinary shares on 31 March 2054
Additional Tier 1 or Common Equity Tier 1
None
Ranks behind Tier 2 Capital
Trust Preferred Securities 2006 (TPS 2006)
1
2
3
4
5
6
Issuer
Unique identifier (eg CUSIP, ISIN or Bloomberg
identifier for private placement)
Governing law(s) of the instrument
Regulatory treatment
Transitional Basel III rules
Post-transitional Basel III rules
Eligible at solo(Level 1)/group (Level 2)/group & solo
(Level 1&2)
2
Westpac RE Limited
AU0000WCTPA9
NSW
Additional Tier 1 Capital
Ineligible
Level 1&2
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
7
8
9
10
Instrument type (ordinary shares/preference
shares/subordinated notes/other)
Amount recognised in Regulatory Capital (Currency
in mil, as of most recent reporting date)
Par value of instrument
Accounting classification
11
12
13
14
15
Original date of issuance
Perpetual or dated
Original maturity date
Issuer call subject to prior supervisory approval
Optional call date, contingent call dates and
redemption amount
16
Subsequent call dates, if applicable
Coupons/dividends
Fixed or floating dividend/coupon
Coupon rate and any related index
17
18
19
20
21
22
23
24
Existence of a dividend stopper
Fully discretionary, partially discretionary or
mandatory
Existence of step up or other incentive to redeem
Noncumulative or cumulative
Convertible or non-convertible
If convertible, conversion trigger (s)
25
26
If convertible, fully or partially
If convertible, conversion rate
27
28
29
If convertible, mandatory or optional conversion
If convertible, specify instrument type convertible into
If convertible, specify issuer of instrument it converts
into
Write-down feature
If write-down, write-down trigger(s)
If write-down, full or partial
If write-down, permanent or temporary
If temporary write-down, description of write-up
mechanism
Position in subordination hierarchy in liquidation
(specify instrument type immediately senior to
instrument)
30
31
32
33
34
35
3
Trust preferred securities
AUD755 million
AUD100
Non-controlling interests in consolidated
subsidiary
21 June 2006
Perpetual
No maturity
Yes
30 June 2016
Tax, regulatory or change of control reasons,
also includes a clean up call right
Redemption at par
Each payment date after first call date
Floating
(90 day bank bill rate + 1% per annum) x (1 –
tax rate) up to and including 30 June 2016,
and
(90 day bank bill rate + 2% per annum) x (1 –
tax rate) from but excluding 30 June 2016
Yes
Fully discretionary
Yes
Non-cumulative
Convertible
30 June 2016 and each payment date
thereafter
Tax, regulatory and change of control
reasons and clean up call right
Events of default
APRA events (contractual approach)
30 September 2055
May convert fully or partially
Each trust preferred security converts into
one Westpac preference share or in other
circumstances each trust preferred security
converts into AUD 100 worth of ordinary
shares subject to 2.5% discount and a
maximum conversion number
Mandatory or optional
Common Equity Tier 1 or Additional Tier 1
Westpac Banking Corporation
No
N/A
N/A
N/A
N/A
Ranks behind Tier 2 Capital
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
36
37
Non-compliant transitioned features
If yes, specify non-compliant features
Yes
No Basel III loss absorption features
Step up features
Stapled Preferred Securities II (SPS II)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Issuer
Unique identifier (eg CUSIP, ISIN or Bloomberg
identifier for private placement)
Governing law(s) of the instrument
Regulatory treatment
Transitional Basel III rules
Post-transitional Basel III rules
Eligible at solo (Level 1)/group (Level 2)/group &
solo (Level 1&2)
Instrument type (ordinary shares/preference
shares/subordinated notes/other)
Amount recognised in Regulatory Capital (Currency
in mil, as of most recent reporting date)
Par value of instrument
Accounting classification
Original date of issuance
Perpetual or dated
Original maturity date
Issuer call subject to prior supervisory approval
Optional call date, contingent call dates and
redemption amount
Subsequent call dates, if applicable
Coupons/dividends
Fixed or floating dividend/coupon
Coupon rate and any related index
21
22
23
24
Existence of a dividend stopper
Fully discretionary, partially discretionary or
mandatory
Existence of step up or other incentive to redeem
Noncumulative or cumulative
Convertible or non-convertible
If convertible, conversion trigger (s)
25
26
If convertible, fully or partially
If convertible, conversion rate
27
28
29
If convertible, mandatory or optional conversion
If convertible, specify instrument type convertible into
If convertible, specify issuer of instrument it converts
into
Write-down feature
If write-down, write-down trigger(s)
If write-down, full or partial
If write-down, permanent or temporary
If temporary write-down, description of write-up
30
31
32
33
34
4
Westpac Banking Corporation
AU0000WBCPB5
NSW
Additional Tier 1
Ineligible
Level 1&2
One subordinated note stapled to one
preference share
AUD908 million
AUD100
Liability - amortised cost
31 March 2009
Perpetual
No maturity
Yes
Tax, regulatory or change of control reasons
Redemption at par
N/A
Floating
(90 day bank bill rate + 3.8% per annum) x (1
– tax rate)
Yes
Fully discretionary
None
Non-cumulative
Convertible
30 September 2014 and each payment date
thereafter
Tax, regulatory or change of control reasons
May convert fully or partially
Each SPS II converts into AUD 100 worth of
ordinary shares subject to 1% discount and
maximum conversion number
Mandatory or optional
Common Equity Tier 1
Westpac Banking Corporation
None
N/A
N/A
N/A
N/A
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
35
36
37
mechanism
Position in subordination hierarchy in liquidation
(specify instrument type immediately senior to
instrument)
Non-compliant transitioned features
If yes, specify non-compliant features
Ranks behind Tier 2 Capital
Yes
No Basel III loss absorbency
Convertible Preference Shares
1
2
Issuer
Unique identifier (eg CUSIP, ISIN or Bloomberg
identifier for private placement)
Westpac Banking Corporation
AU0000WBCPC3
3
Governing law(s) of the instrument
Regulatory treatment
Transitional Basel III rules
Post-transitional Basel III rules
Eligible at solo (Level 1)/group (Level 2)/group &
solo (Level 1&2)
Instrument type (ordinary shares/preference
shares/subordinated notes/other)
Amount recognised in Regulatory Capital (Currency
in mil, as of most recent reporting date)
Par value of instrument
Accounting classification
Original date of issuance
Perpetual or dated
Original maturity date
Issuer call subject to prior supervisory approval
Optional call date, contingent call dates and
redemption amount
NSW
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Subsequent call dates, if applicable
Coupons/dividends
Fixed or floating dividend/coupon
Coupon rate and any related index
21
22
23
24
Existence of a dividend stopper
Fully discretionary, partially discretionary or
mandatory
Existence of step up or other incentive to redeem
Noncumulative or cumulative
Convertible or non-convertible
If convertible, conversion trigger (s)
25
26
If convertible, fully or partially
If convertible, conversion rate
27
28
If convertible, mandatory or optional conversion
If convertible, specify instrument type convertible into
5
Additional Tier 1
Ineligible
Level 1&2
Preference shares
AUD1,190 million
AUD100
Liability - amortised cost
23 March 2012
Perpetual
No maturity
Yes
31 March 2018
Tax, regulatory or change of control reasons
Redemption at par
Each payment date after 31 March 2018
Floating
(180 day bank bill rate + 3.25% per annum) x
(1- tax rate)
Yes
Fully discretionary
None
Non-cumulative
Convertible
31 March 2018 and each payment date
thereafter
31 March 2020
Capital trigger
Tax, regulatory or change of control
May convert fully or partially
Each CPS converts into AUD 100 worth of
ordinary shares subject to 1% discount and
maximum conversion number
Mandatory or optional
Common Equity Tier 1
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
29
30
31
32
33
34
35
36
37
If convertible, specify issuer of instrument it converts
into
Write-down feature
If write-down, write-down trigger(s)
If write-down, full or partial
If write-down, permanent or temporary
If temporary write-down, description of write-up
mechanism
Position in subordination hierarchy in liquidation
(specify instrument type immediately senior to
instrument)
Non-compliant transitioned features
If yes, specify non-compliant features
Westpac Banking Corporation
None
N/A
N/A
N/A
N/A
Ranks behind Tier 2 Capital
Yes
No non-viability loss absorption features
Westpac Capital Notes
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Issuer
Unique identifier (eg CUSIP, ISIN or Bloomberg
identifier for private placement)
Governing law(s) of the instrument
Regulatory treatment
Transitional Basel III rules
Post-transitional Basel III rules
Eligible at solo (Level 1)/group (Level 2)/group &
solo (Level 1&2)
Instrument type (ordinary shares/preference
shares/subordinated notes/other)
Westpac Banking Corporation
AU0000WBCPD1
Amount recognised in Regulatory Capital (Currency
in mil, as of most recent reporting date)
Par value of instrument
Accounting classification
Original date of issuance
Perpetual or dated
Original maturity date
Issuer call subject to prior supervisory approval
Optional call date, contingent call dates and
redemption amount
AUD1,383 million
Subsequent call dates, if applicable
Coupons/dividends
Fixed or floating dividend/coupon
Coupon rate and any related index
Existence of a dividend stopper
Fully discretionary, partially discretionary or
mandatory
Existence of step up or other incentive to redeem
Noncumulative or cumulative
Convertible or non-convertible
If convertible, conversion trigger (s)
6
NSW
N/A
Additional Tier 1
Level 1&2
Subordinated notes
AUD100
Liability at amortised cost
8 March 2013
Perpetual
No maturity
Yes
8 March 2019
For tax, franking or regulatory reasons
Redemption at par
N/A
Floating
(90 day bank bill rate + 3.2% per annum) x (1
– tax rate)
Yes
Fully discretionary
None
Non-cumulative
Convertible
8 March 2021 and each payment date
thereafter
Change of control
Capital trigger
PILLAR 3
ADDITIONAL TIER 1 CAPITAL INSTRUMENTS
25
26
If convertible, fully or partially
If convertible, conversion rate
27
28
29
If convertible, mandatory or optional conversion
If convertible, specify instrument type convertible into
If convertible, specify issuer of instrument it converts
into
Write-down feature
If write-down, write-down trigger(s)
30
31
32
33
34
35
36
37
If write-down, full or partial
If write-down, permanent or temporary
If temporary write-down, description of write-up
mechanism
Position in subordination hierarchy in liquidation
(specify instrument type immediately senior to
instrument)
Non-compliant transitioned features
If yes, specify non-compliant features
7
Non-viability trigger by APRA (contractual
approach)
May convert fully or partially
Each Westpac Capital Note converts into
AUD 100 worth of ordinary shares subject to
1% discount and maximum conversion
number
Mandatory
Common Equity Tier 1
Westpac Banking Corporation
Yes
Following capital or non-viability trigger if
conversion does not occur within 5 business
days (under a contractual approach)
May be full or partial
Permanent
N/A
Ranks behind Tier 2 Capital
No
N/A