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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/20/22 Westpac Banking Corp. 424B5 2:997K Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: 424B5 Prospectus - Primary Offering or Shelf Securities HTML 572K - New Facts or Events 2: EX-FILING FEES Filing Fees HTML 16K
tm2213598-3_424b5 - none - 13.7969353s |
| | |
Per
3.735% Note |
| |
Total for
3.735% Notes |
| |
Per
4.043% Note |
| |
Total for
4.043% Notes |
| |
Per Floating
Rate Note |
| |
Total for Floating
Rate Notes |
| |||||||||
Public Offering Price(1)
|
| | | | 100.000% | | | |
US$700,000,000
|
| | | | 100.000% | | | |
US$1,000,000,000
|
| | | | 100.000% | | | |
US$550,000,000
|
|
Underwriting Discounts(2) . . . . .
|
| | | | 0.150% | | | |
US$ 1,050,000
|
| | | | 0.250% | | | |
US$ 2,500,000
|
| | | | 0.150% | | | |
US$ 825,000
|
|
Proceeds to Westpac (before expenses)
|
| | | | 99.850% | | | |
US$698,950,000
|
| | | | 99.750% | | | |
US$ 997,500,000
|
| | | | 99.850% | | | |
US$549,175,000
|
|
|
BofA Securities
|
| | Citigroup | | |
Goldman Sachs & Co. LLC
|
| |
J.P. Morgan
|
| |
Westpac Banking Corporation
|
|
|
CIBC Capital Markets
|
| |
DBS Bank Ltd.
|
| | ING | | |
OCBC Bank
|
|
| | |
Page
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As of and for the half-year
ended March 31, |
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As of and for the financial year ended September 30,
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2022(1)
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2022
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2021
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2021(1)
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2021
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2020
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2019
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2018
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2017
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(in US$
millions) |
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(in A$ millions)
|
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(in US$
millions) |
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(in A$ millions)
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(Unaudited)
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Income statement(2),(3) | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||
Net interest income
|
| | | | 6,215 | | | | | | 8,288 | | | | | | 8,348 | | | | | | 12,642 | | | | | | 16,858 | | | | | | 16,696 | | | | | | 16,907 | | | | | | 16,505 | | | | | | 15,516 | | |
Net fee income
|
| | | | 634 | | | | | | 845 | | | | | | 700 | | | | | | 1,111 | | | | | | 1,482 | | | | | | 1,592 | | | | | | 1,655 | | | | | | 2,424 | | | | | | 2,603 | | |
Net wealth management and insurance income
|
| | | | 301 | | | | | | 401 | | | | | | 598 | | | | | | 908 | | | | | | 1,211 | | | | | | 751 | | | | | | 1,029 | | | | | | 2,061 | | | | | | 1,800 | | |
Trading income
|
| | | | 257 | | | | | | 343 | | | | | | 442 | | | | | | 539 | | | | | | 719 | | | | | | 895 | | | | | | 929 | | | | | | 945 | | | | | | 1,202 | | |
Other income
|
| | | | 265 | | | | | | 353 | | | | | | 598 | | | | | | 714 | | | | | | 952 | | | | | | 249 | | | | | | 129 | | | | | | 72 | | | | | | 529 | | |
Net operating income before operatingexpenses and impairment charges
|
| | | | 7,671 | | | | | | 10,230 | | | | | | 10,686 | | | | | | 15,914 | | | | | | 21,222 | | | | | | 20,183 | | | | | | 20,649 | | | | | | 22,007 | | | | | | 21,650 | | |
Operating expenses
|
| | | | (4,029) | | | | | | (5,373) | | | | | | (5,997) | | | | | | (9,982) | | | | | | (13,311) | | | | | | (12,739) | | | | | | (10,106) | | | | | | (9,566) | | | | | | (9,282) | | |
Impairment (charges)/benefits
|
| | | | (104) | | | | | | (139) | | | | | | 372 | | | | | | 442 | | | | | | 590 | | | | | | (3,178) | | | | | | (794) | | | | | | (710) | | | | | | (853) | | |
Profit before income tax
expense |
| | | | 3,538 | | | | | | 4,718 | | | | | | 5,061 | | | | | | 6,375 | | | | | | 8,501 | | | | | | 4,266 | | | | | | 9,749 | | | | | | 11,731 | | | | | | 11,515 | | |
Income tax expense
|
| | | | (1,075) | | | | | | (1,434) | | | | | | (1,616) | | | | | | (2,278) | | | | | | (3,038) | | | | | | (1,974) | | | | | | (2,959) | | | | | | (3,632) | | | | | | (3,518) | | |
Net profit attributable to non-controlling interests
|
| | | | (3) | | | | | | (4) | | | | | | (2) | | | | | | (4) | | | | | | (5) | | | | | | (2) | | | | | | (6) | | | | | | (4) | | | | | | (7) | | |
Net profit attributable to owners of
Westpac Banking Corporation |
| | | | 2,460 | | | | | | 3,280 | | | | | | 3,443 | | | | | | 4,093 | | | | | | 5,458 | | | | | | 2,290 | | | | | | 6,784 | | | | | | 8,095 | | | | | | 7,990 | | |
Balance sheet(2),(3) | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||
Loans
|
| | | | 539,595 | | | | | | 719,556 | | | | | | 688,218 | | | | | | 532,267 | | | | | | 709,784 | | | | | | 693,059 | | | | | | 714,770 | | | | | | 709,690 | | | | | | 684,919 | | |
Other assets
|
| | | | 183,870 | | | | | | 245,193 | | | | | | 201,201 | | | | | | 169,547 | | | | | | 226,093 | | | | | | 218,887 | | | | | | 191,856 | | | | | | 169,902 | | | | | | 166,956 | | |
Total assets
|
| | | | 723,465 | | | | | | 964,749 | | | | | | 889,419 | | | | | | 701,814 | | | | | | 935,877 | | | | | | 911,946 | | | | | | 906,626 | | | | | | 879,592 | | | | | | 851,875 | | |
Deposits and other borrowings
|
| | | | 484,140 | | | | | | 645,606 | | | | | | 585,401 | | | | | | 470,154 | | | | | | 626,955 | | | | | | 591,131 | | | | | | 563,247 | | | | | | 559,285 | | | | | | 533,591 | | |
Debt issues
|
| | | | 100,208 | | | | | | 133,629 | | | | | | 127,850 | | | | | | 96,571 | | | | | | 128,779 | | | | | | 150,325 | | | | | | 181,457 | | | | | | 172,596 | | | | | | 168,356 | | |
Loan capital
|
| | | | 21,774 | | | | | | 29,036 | | | | | | 26,294 | | | | | | 21,797 | | | | | | 29,067 | | | | | | 23,949 | | | | | | 21,826 | | | | | | 17,265 | | | | | | 17,666 | | |
Other liabilities
|
| | | | 64,600 | | | | | | 86,145 | | | | | | 77,813 | | | | | | 59,230 | | | | | | 78,984 | | | | | | 78,467 | | | | | | 74,589 | | | | | | 65,873 | | | | | | 70,920 | | |
Total liabilities
|
| | | | 670,723 | | | | | | 894,416 | | | | | | 817,358 | | | | | | 647,752 | | | | | | 863,785 | | | | | | 843,872 | | | | | | 841,119 | | | | | | 815,019 | | | | | | 790,533 | | |
Total shareholders’ equity and non-controlling interests
|
| | | | 52,743 | | | | | | 70,333 | | | | | | 72,061 | | | | | | 54,062 | | | | | | 72,092 | | | | | | 68,074 | | | | | | 65,507 | | | | | | 64,573 | | | | | | 61,342 | | |
| | |
As of and for the half-year
ended March 31, |
| |
As of and for the financial year ended September 30,
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2021
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2021
|
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2020
|
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2019
|
| |
2018
|
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2017
|
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(Unaudited)
|
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Key Financial Ratios | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Business Performance | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating expenses to operating income
ratio (%) |
| | | | 52.52 | | | | | | 56.12 | | | | | | 62.72 | | | | | | 63.12 | | | | | | 48.94 | | | | | | 43.47 | | | | | | 42.87 | | |
Net interest margin (%)(4)
|
| | | | 1.91 | | | | | | 2.06 | | | | | | 2.06 | | | | | | 2.03 | | | | | | 2.12 | | | | | | 2.13 | | | | | | 2.06 | | |
Return on average assets(%)(5)
|
| | | | 0.69 | | | | | | 0.77 | | | | | | 0.60 | | | | | | 0.25 | | | | | | 0.76 | | | | | | 0.94 | | | | | | N/A | | |
Capital Adequacy | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
APRA Basel III: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Common equity Tier 1 (%)
|
| | | | 11.33 | | | | | | 12.34 | | | | | | 12.32 | | | | | | 11.13 | | | | | | 10.67 | | | | | | 10.63 | | | | | | 10.56 | | |
Tier 1 ratio (%)
|
| | | | 13.41 | | | | | | 14.55 | | | | | | 14.65 | | | | | | 13.23 | | | | | | 12.84 | | | | | | 12.78 | | | | | | 12.66 | | |
Total capital ratio (%)
|
| | | | 17.71 | | | | | | 18.43 | | | | | | 18.86 | | | | | | 16.38 | | | | | | 15.63 | | | | | | 14.74 | | | | | | 14.82 | | |
Credit Quality(6) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loan written off (net of recoveries)
|
| | | | 464 | | | | | | 299 | | | | | | 594 | | | | | | 977 | | | | | | 982 | | | | | | 948 | | | | | | 1,488 | | |
Loans written off (net of recoveries) to average loans (basis points)
|
| | | | 6 | | | | | | 4 | | | | | | 8 | | | | | | 14 | | | | | | 14 | | | | | | 14 | | | | | | 22 | | |
Net impaired assets to equity and collectively assessed provisions (%)
|
| | | | 1.15 | | | | | | 1.43 | | | | | | 1.28 | | | | | | 2.21 | | | | | | 1.41 | | | | | | 1.14 | | | | | | 1.29 | | |
Total provisions for expected credit losses to total loans (basis points)
|
| | | | 65 | | | | | | 79 | | | | | | 70 | | | | | | 88 | | | | | | 54 | | | | | | 43 | | | | | | 45 | | |
| | |
As of
March 31, 2022 |
| |||||||||
| | |
Actual
|
| |
As adjusted
|
| ||||||
| | | | | | | | |
(unaudited)
|
| |||
| | |
(in A$ millions)
|
| |||||||||
Cash and balances with central banks
|
| | | | 102,410 | | | | | | 102,410 | | |
Debt issues
|
| | | | 133,629 | | | | | | 133,629 | | |
Notes offered hereby
|
| | | | — | | | | | | 3,000(1) | | |
Loan capital
|
| | | | 29,036 | | | | | | 29,036 | | |
Shareholders’ equity and non-controlling interests | | | | | | | | | | | | | |
Share capital
|
| | | | 39,016 | | | | | | 39,016 | | |
Reserves
|
| | | | 2,901 | | | | | | 2,901 | | |
Retained profits
|
| | | | 28,362 | | | | | | 28,362 | | |
Non-controlling interests
|
| | | | 54 | | | | | | 54 | | |
Total shareholders’ equity and non-controlling interests
|
| | | | 70,333 | | | | | | 70,333 | | |
Total capitalization
|
| | | | 232,998 | | | | | | 235,998 | | |
Underwriter
|
| |
Principal Amount of
3.735% Notes |
| |
Principal Amount of
4.043% Notes |
| |
Principal Amount of
Floating Rate Notes |
|
BofA Securities, Inc.
|
| |
US$140,000,000
|
| |
US$ 200,000,000
|
| |
US$110,000,000
|
|
Citigroup Global Markets Inc.
|
| |
$140,000,000
|
| |
$ 200,000,000
|
| |
$110,000,000
|
|
Goldman Sachs & Co. LLC
|
| |
$140,000,000
|
| |
$ 200,000,000
|
| |
$110,000,000
|
|
J.P. Morgan Securities LLC
|
| |
$140,000,000
|
| |
$ 200,000,000
|
| |
$110,000,000
|
|
Westpac Banking Corporation
|
| |
$126,000,000
|
| |
$ 180,000,000
|
| |
$ 99,000,000
|
|
DBS Bank Ltd
|
| |
$ 3,500,000
|
| |
$ 5,000,000
|
| |
$ 2,750,000
|
|
CIBC World Markets Corp.
|
| |
$ 3,500,000
|
| |
$ 5,000,000
|
| |
$ 2,750,000
|
|
ING Financial Markets LLC
|
| |
$ 3,500,000
|
| |
$ 5,000,000
|
| |
$ 2,750,000
|
|
Oversea-Chinese Banking Corporation
Limited |
| |
$ 3,500,000
|
| |
$ 5,000,000
|
| |
$ 2,750,000
|
|
Total
|
| |
US$700,000,000
|
| |
US$1,000,000,000
|
| |
US$550,000,000
|
|
Financial Year
|
| |
At Period End
|
| |
Average Rate(1)
|
| |
High
|
| |
Low
|
| ||||||||||||
2017
|
| | | | 0.7840 | | | | | | 0.7624 | | | | | | 0.8071 | | | | | | 0.7174 | | |
2018
|
| | | | 0.7238 | | | | | | 0.7583 | | | | | | 0.8105 | | | | | | 0.7107 | | |
2019
|
| | | | 0.6746 | | | | | | 0.7023 | | | | | | 0.7360 | | | | | | 0.6730 | | |
2020
|
| | | | 0.7160 | | | | | | 0.6815 | | | | | | 0.7388 | | | | | | 0.5755 | | |
2021
|
| | | | 0.7228 | | | | | | 0.7490 | | | | | | 0.7953 | | | | | | 0.7006 | | |
2022(2)
|
| | | | 0.6918 | | | | | | 0.7213 | | | | | | 0.7598 | | | | | | 0.6852 | | |
|
SEC Registration Fee
|
| |
US$208,575
|
|
|
Printing Expenses
|
| |
15,000
|
|
|
Trustee’s Fees and Expenses
|
| |
7,500
|
|
|
Accountants’ Fees and Expenses
|
| |
65,000
|
|
|
Legal Fees and Expenses
|
| |
130,000
|
|
|
Total
|
| |
US$426,075
|
|
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Page
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Financial Year
|
| |
At Period
End |
| |
Average
Rate(1) |
| |
High
|
| |
Low
|
| ||||||||||||
2017
|
| | | | 0.7840 | | | | | | 0.7624 | | | | | | 0.8071 | | | | | | 0.7174 | | |
2018
|
| | | | 0.7238 | | | | | | 0.7583 | | | | | | 0.8105 | | | | | | 0.7107 | | |
2019
|
| | | | 0.6746 | | | | | | 0.7023 | | | | | | 0.7360 | | | | | | 0.6730 | | |
2020
|
| | | | 0.7160 | | | | | | 0.6815 | | | | | | 0.7388 | | | | | | 0.5755 | | |
2021
|
| | | | 0.7228 | | | | | | 0.7490 | | | | | | 0.7953 | | | | | | 0.7006 | | |
2022(2) | | | | | 0.7510 | | | | | | N/A | | | | | | 0.7547 | | | | | | 0.7258 | | |
|
BofA Securities
|
| |
Citigroup
|
| |
Goldman Sachs &
Co. LLC |
| |
J.P. Morgan
|
| |
Westpac Banking
Corporation |
|
|
CIBC Capital Markets
|
| |
DBS Bank Ltd.
|
| | ING | | |
OCBC Bank
|
|
This ‘424B5’ Filing | Date | Other Filings | ||
---|---|---|---|---|
8/26/27 | ||||
8/26/25 | ||||
10/7/24 | ||||
9/30/22 | ||||
8/26/22 | ||||
5/26/22 | 6-K | |||
Filed on: | 5/20/22 | |||
5/18/22 | 424B5 | |||
5/13/22 | ||||
5/9/22 | 6-K | |||
5/6/22 | ||||
3/31/22 | 13F-HR, 6-K | |||
2/3/22 | 6-K | |||
11/30/21 | 6-K | |||
11/3/21 | 20-F, 6-K, F-3ASR, F-N | |||
11/1/21 | 6-K | |||
10/29/21 | ||||
9/30/21 | 13F-HR, 20-F | |||
3/31/21 | 13F-HR, 6-K | |||
9/30/20 | 13F-HR, 20-F | |||
1/16/20 | 6-K | |||
10/8/19 | ||||
10/7/19 | ||||
9/30/19 | 13F-HR, 20-F | |||
11/9/18 | F-3ASR, F-N | |||
9/30/18 | 13F-HR, 20-F, 20-F/A | |||
9/30/17 | 13F-HR, 20-F | |||
6/22/17 | FWP | |||
11/9/16 | 20-F, POSASR | |||
10/8/13 | ||||
8/14/12 | 13F-HR, 424B2, 6-K | |||
8/27/09 | 424B5, 6-K, FWP | |||
10/8/07 | ||||
7/1/99 | ||||
8/19/96 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/09/22 Westpac Banking Corp. 6-K 5/09/22 2:24M Toppan Merrill/FA 3/16/22 Westpac Banking Corp. 6-K 3/16/22 2:36K Toppan Merrill/FA 2/03/22 Westpac Banking Corp. 6-K 2/03/22 5:9.2M Toppan Merrill/FA 11/30/21 Westpac Banking Corp. 6-K 11/30/21 3:56K Toppan Merrill/FA 11/26/21 Westpac Banking Corp. 6-K 11/25/21 2:50K Toppan Merrill/FA 11/18/21 Westpac Banking Corp. 6-K 11/18/21 5:677K Toppan Merrill/FA 11/18/21 Westpac Banking Corp. 6-K 11/18/21 9:943K Toppan Merrill/FA 11/03/21 Westpac Banking Corp. 20-F 9/30/21 213:135M Toppan Merrill/FA 11/01/21 Westpac Banking Corp. 6-K 11/01/21 2:27M Toppan Merrill/FA |