FINAL TERMS

UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE COUNTERPARTIES ONLY TARGET MARKET - Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Instruments has led to the conclusion that: (i) the target market for the Instruments is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law in the UK by virtue of the EUWA ("UK MiFIR"); and (ii) all channels for distribution of the Instruments to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Instruments (a "UK distributor") should take into consideration the manufacturers' target market assessment; however, a UK distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible for undertaking its own target market assessment in respect of the Instruments (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

NOTIFICATION UNDER SECTION 309B(1) OF THE SECURITIES AND FUTURES ACT 2001 (2020 REVISED EDITION) OF SINGAPORE, AS MODIFIED OR AMENDED FROM TIME TO TIME - The Instruments are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12:Notice on the Sale of Investment Products and MAS Notice FAA-N16:Notice on Recommendations on Investment Products).

FINAL TERMS

Series No.:

1527

Tranche No.: 1

WESTPAC BANKING CORPORATION ABN 33 007 457 141

Programme for the Issuance of Debt Instruments

Issue of

USD150,000,000 Fixed Rate Instruments due September 2024

by Westpac Banking Corporation

Legal Entity Identifier (LEI): EN5TNI6CI43VEPAMHL14

Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the "Conditions") set forth in the base prospectus dated 11 November 2022 and the supplement to the base prospectus dated 9 May 2023 (the "Base Prospectus") for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018, as amended by the European Union (Withdrawal Agreement) Act 2020 (the "EUWA") (as amended, the "UK Prospectus Regulation"). This document constitutes the Final Terms of the Instruments described herein for the purposes of the UK Prospectus Regulation and must be read in conjunction with the Base Prospectus in order to obtain all the relevant information. The Base Prospectus is available for viewing at Camomile Court, 23

Camomile Street, London EC3A 7LL, United Kingdom, and at http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html and copies may be obtained from the Specified Offices of the Paying Agents.

2

PART A: Contractual Terms

  1. Issuer and Designated Branch: Westpac Banking Corporation acting through its head office
  2. Date of Board Approval of Issuer: Not Applicable, save as discussed in Section 2 of the "General Information" section of the Base Prospectus

3.

Status:

Senior

4. Specified Currency:

(i)

of denomination:

United States Dollar ("USD")

(ii)

of payment:

USD

  1. Aggregate Principal Amount of USD150,000,000
    Tranche:
  2. If interchangeable with existing Not Applicable
    Series, Series No.:

7.

(i)

Issue Date:

25 September 2023

  1. Interest Commencement Date: Issue Date

8.

Issue Price:

100 per cent of the Aggregate Principal

Amount of the Tranche

9.

Maturity Date:

17 September 2024, subject to adjustment in

accordance with the Business Day

Convention specified in paragraph 20(iv)

10.

Expenses:

Not Applicable

11.

(i)

Form of Instruments:

Bearer

(ii)

Bearer Instruments

No

exchangeable for Registered

Instruments:

12. If issued in bearer form:

(i)

Initially represented by a Temporary Global Instrument

Temporary Global Instrument or

Permanent Global Instrument:

3

  1. Temporary Global Instrument Yes

exchangeable for a Permanent

Global Instrument

or

for

The Exchange Date shall be a date no earlier

Definitive Instruments and/or (if

than 40 days after the Issue Date.

the

relevant

Series

comprises

both

Bearer

Instruments

and

Registered

Instruments)

Registered Instruments:

  1. Specify date (if any) from which exchanges for Registered Instruments will be made:
  2. Permanent Global Instrument exchangeable at the option of the bearer for Definitive Instruments and/or (if the relevant Series comprises both
    Bearer Instruments and
    Registered Instruments) Registered Instruments:

Not Applicable

No. Permanent Global Instruments are only exchangeable for Definitive Instruments in the limited circumstances set out in Conditions 2.5(a) and (b)

(v)

Talons for future Coupons to be

No

attached

to

Definitive

Instruments:

(vi)

Receipts

to be

attached to

No

Instalment

Instruments which

are Definitive Instruments:

13.

If issued in registered form:

Not Applicable

14.

Denomination(s):

USD200,000

15.

Calculation Amount:

USD200,000

16.

Partly Paid Instruments:

No

17. If issued in registered form: Not Applicable

Registrar:

18.

Interest:

5.95 per cent. per annum Fixed Rate

19.

Change of interest basis

Not Applicable

20.

Fixed Rate Instrument Provisions:

Applicable

4

(i)

Interest Rate:

5.95 per cent. per annum

(ii)

Interest Payment Date(s):

17 September 2024 being the Maturity Date,

subject to adjustment in accordance with the

Business Day Convention specified in

paragraph 20(iv)

(iii)

Interest Period End Date(s):

17 September 2024 being the Maturity Date

  1. Business Day Convention:

for Interest Payment Dates:

Modified Following Business Day Convention

for Interest Period End Dates:

No adjustment

for Maturity Date:

Modified Following Business Day Convention

any other date:

No adjustment

(v)

Fixed Coupon Amount:

USD$11,635.56 per Calculation Amount

(vi)

Day Count Fraction:

30/360

(vii)

Broken Amount(s):

Not Applicable

(viii)

Accrual Feature

Not Applicable

(ix)

Additional Business Centre(s):

New York, London, Sydney

  1. Interest Accrual Periods to All which Fixed Rate Instruments Provisions are applicable:

21.

Fixed

Rate

Reset

Instrument Not Applicable

Provisions:

  1. Floating Rate Instrument Provisions: Not Applicable
  2. Zero Coupon Instrument Provisions: Not Applicable

24.

Benchmark Replacement:

Not Applicable

25. Dates for payment of Instalment Not Applicable

Amounts (Instalment Instruments):

26.

Final Redemption Amount of each USD200,000 per Calculation Amount

Instrument:

5

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Westpac Banking Corporation published this content on 25 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 13:15:08 UTC.