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Term Sheet

26/10/2021 12:19p.m.
NZ/AU Markets   
Exchange Traded Funds   
NZ Fixed interest   
New Issues
Cash Management Trust Account
Issuer Westpac New Zealand Limited
Business of the Issuer As of 1 November 2006, Westpac NZ was registered as a registered bank under the Reserve Bank of New Zealand Act 1989. Westpac NZ is a wholly owned subsidiary of Westpac Banking Corporation (WBC) in Australia. It provides a full range of banking and financial services for personal, business and agribusiness banking, as well as being the banker to the New Zealand Government.
Instrument Unsecured, unsubordinated, fixed rate bonds.
NZDX Code Not Listed
Ranking Unsecured Unsubordinated.
Issue Size $550m
Maturity Date 23 March 2023
Coupon Rate 3.72%
Credit Rating AA-
Maturity Mechanism Cash on maturity.
Payment Frequency Semi-annually
Coupon Payments Interest is paid semi-annually on 23 March and 23 September.
Minimum Holding 10,000
Minimum Parcel Size 1,000
Registry Link

Jarden Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. We have compiled this fixed interest term sheet (“Term Sheet”) for your information purposes only. We have provided this Term Sheet to you in good faith and have prepared it using our own views, external sources, material, systems and other information that we believe to be accurate, complete and reliable at the time of preparation, but the accuracy, correctness and completeness cannot be guaranteed. We make no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information contained within this Term Sheet, and nothing shall be deemed to constitute any representation or warranty. To the fullest extent permitted by law, we shall not be liable or responsible for any error or omission.

This Term Sheet is not to be relied upon as a basis for making any investment decision. This Term Sheet does not take into account your particular financial situation or goals, and does not, therefore, constitute personalised financial advice under the Financial Advisers Act 2008, nor does it constitute advice of a legal, tax, accounting or other nature. Please consult your adviser in relation to any investment decision. To the fullest extent permitted by law, we shall not be liable for any decision made or action taken by you or a third party based on, or in reliance on, any information contained in this Commentary.

We and our related and associated companies, directors, employees may have an interest in the bonds mentioned in this Term Sheet, including but not limited to financial. We are an NZX Firm. A disclosure statement is available on request.

Read full disclaimer https://www.jarden.co.nz/disclaimer/