Redemption Notice for Westpac NZD Subordinated Notes

NZX Release



9 July 2021


Redemption Notice for Westpac NZD Subordinated Notes (Notes)

Westpac Banking Corporation today provides the attached documents regarding the Notes:
• a letter to Notes holders regarding the redemption of the Notes on 1 September 2021;
• a redemption notice; and
• an NZX Listing Rule 3.14.1 notice.




For further information:

David Lording Andrew Bowden
Group Head of Media Relations Head of Investor Relations
+61 419 683 411 +61 438 284 863


This document has been authorised for release by Tim Hartin, General Manager & Company
Secretary.

Level 18, 275 Kent Street
Sydney, NSW, 2000

Westpac NZD Subordinated Notes
Issued by Westpac Banking Corporation, through
its head office, Sydney

All Registrar communications to:
Link Market Services Limited (Link)
PO Box 91976, Victoria Street West
Auckland 1142, New Zealand
Telephone: +64 9 375 5998
NZX Code: WBC010
Email: enquiries@linkmarketservices.co.nz
Website: www.linkmarketservices.co.nz



9 July 2021
Dear Investor,

REDEMPTION NOTICE FOR WESTPAC NZD SUBORDINATED NOTES (NZX TICKER CODE:
WBC010)

I am writing to let you know that on 1 September 2021, the First Optional Redemption Date for
Westpac NZD Subordinated Notes (Note or Notes), Westpac Banking Corporation (Westpac) will
redeem all Notes on issue. The accompanying redemption notice is issued in accordance with
condition 4.4(a) of the Note conditions (Conditions).

What this means for you

On 1 September 2021, you will be paid the redemption proceeds of NZ$1 for each Note, together
with the final interest payment for the period from 1 June to 31 August 2021 (inclusive) on any
Notes, that you hold on the Record Date of 20 August 2021. The interest rate for this period is
4.6950% per annum.

These payments will be made in the same way your interest payments have previously been paid.

You may sell your Notes on NZX at the prevailing market price (which may be higher or lower than
the redemption proceeds of NZ$1 per Note) on or before 18 August 2021, which is expected to be the
last day of trading in Notes. It is also expected that off-market transfers of Notes will not be accepted
after 20 August 2021.

You do not need to do anything in response to this letter unless you wish to update your account
details. To do so, visit Link’s investor centre at www.linkmarketservices.co.nz or call Link on +64 9
375 5998 to request a form be mailed to you. Payments can only be made by direct credit into a New
Zealand dollar bank account. Any changes must be made before 5.00pm (New Zealand time) on 20
August 2021.
More information
For further information, visit www.westpac.com.au/westpacnzdsubnotes or call Link on +64
9 375 5998 (Monday to Friday, 8.30am to 5.00pm, New Zealand time).

Thank you for your investment in Notes and support of Westpac.


Andrew Bowden
Head of Investor Relations
Westpac Banking Corporation

Capitalised terms not otherwise defined in this letter have the same meaning as given in the
Conditions.

Redemption Notice for Westpac NZD Subordinated Notes


Westpac Banking Corporation, through its head office in Sydney (Westpac) gives notice to the Holders
of its NZ$400 million unsecured, subordinated, convertible fixed rate notes with the NZX ticker code
WBC010 (Notes), that Westpac will exercise its option to redeem all of the Notes on 1 September 2021,
being the Interest Payment Date falling on the First Optional Redemption Date, in accordance with the
Conditions (as defined below).
On 1 September 2021, Holders of Notes recorded in the Register as at the Record Date (20 August
2021) will be entitled to receive the Face Value of each Note (NZ$1) together with a final interest
payment of NZ$0.0117375 per Note, in accordance with the Conditions.
Westpac issued the Notes on 1 September 2016 under a master deed poll dated 25 July 2016 and a
supplemental deed poll dated 25 July 2016 (Supplemental Deed Poll). The terms and conditions of
the Notes are set out in schedule 1 to the Supplemental Deed Poll (Conditions).
Capitalised terms not otherwise defined in this notice have the same meaning as given in the
Conditions.

Tim Hartin
General Manager & Company Secretary
Westpac Banking Corporation

Corporate Action Notice


Page 1 of 1
Section 1: issuer information (mandatory)
Name of issuer Westpac Banking Corporation (WBC)
Class of Financial Product Unsecured, subordinated, convertible fixed rate notes
NZX ticker code WBC010
ISIN (If unknown, check on NZX
website)
NZWBCD0010L1
Name of Registry Link Market Services Limited
Type of corporate action
(Please mark with an X in the relevant
box/es)
Share purchase
plan
Renounceable
Rights issue

Capital
reconstruction
Non
Renounceable
Rights issue

Call X Bonus issue
Record date 20/08/2021
Ex-Date (one business day before the
Record Date)
19/08/2021
Currency NZD
Section 2: Call
Total number of Financial Products
being called
400,000,000
Total call amount payable in respect of
all Financial Products
$400,000,000, together with any accrued and unpaid
interest
Amount payable per Financial Product $1.00, together with any accrued and unpaid interest
Call notices mailed Redemption notice released through NZX and mailed
to Holders on 9 July 2021.
Redemption Date 01/09/2021
Section 3: Authority for this announcement (mandatory)
Name of person authorised to make this
announcement
Tim Hartin, General Manager & Company Secretary
Contact person for this announcement Andrew Bowden, Head of Investor Relations
Contact phone number +61 2 8253 4008
Contact email address investorrelations@westpac.com.au
Date of release through MAP 09/07/2021