Intention to redeem Series 2019-7 Subordinated Instruments

ASX
Release


2 July 2024

Intention to redeem Callable Floating Rate Subordinated Notes
AUD1,000,000,000 Callable Floating Rate Subordinated Notes due 27 August 2029 (ISIN
AU3FN0049672) (the “Instruments”) issued by Westpac Banking Corporation (ABN 33 007 457
141) (the “Issuer”) under its Debt Issuance Programme (the “Programme”)
The Issuer hereby announces that it intends to redeem the Instruments in full in accordance with the
Conditions of the Instruments as set out in the Information Memorandum for the Programme dated
20 July 2018 and as supplemented by Supplement dated 23 August 2019. The Issuer anticipates
completing the redemption of the Subordinated Notes on the first Early Redemption Date (Call),
being 27 August 2024.
The Issuer intends to redeem 100 per cent of the Outstanding Principal Amount of the Instruments
together with interest payable for the Interest Period from, and including, 27 May 2024 to, but
excluding, 27 August 2024, calculated in accordance with Condition 7.3 of the Conditions.
This announcement is not a formal notice of redemption in respect of the Instruments. Before
redeeming the Instruments, the Issuer intends to give formal notice of redemption to Holders in
accordance with the Conditions during the call notice period, which starts on 13 July 2024 and ends
on 12 August 2024.
APRA has approved the redemption of the Instruments. The intended redemption of the Instruments
does not imply or indicate that the Issuer will in the future exercise any right it may have to redeem
any other outstanding regulatory capital instruments issued by it. Any such redemption would also be
subject to APRA’s prior written approval (which may or may not be given).
Capitalised terms used in this announcement have the same meaning given to them in the
Conditions of the Instruments unless otherwise defined in this announcement.
For further information, please contact Guy Volpicella (at
gvolpicella@westpac.com.au), Head of
Structured Funding and Capital, Group Treasury or Jacqueline Boddy, Head of Debt Investor
Relations (at jboddy@westpac.com.au).

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

Level 18, 275 Kent Street
Sydney, NSW, 2000

DISCLAIMER
This announcement is for information purposes only and does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Issuer in the United States or any other jurisdiction.
The announcement contains ‘forward-looking statements’. They are subject to change without notice
and certain risks, uncertainties and assumptions which are, in many instances, beyond its control.
They have been based upon management’s expectations and beliefs concerning future
developments and their potential effect on the Issuer. Should one or more of the risks or
uncertainties materialise, or should underlying assumptions prove incorrect, the forward-looking
events discussed herein may not occur. Investors should not place undue reliance on forward-
looking statements and statements of expectation. The Issuer is under no obligation to update any
forward-looking statements contained within this announcement, whether as a result of new
information, future events or otherwise, subsequent to date of this announcement.