Wealth Focus has secured access to the Westpac Capital Notes 4 IPO. Investors looking to apply for a broker firm allocation will need to contact us on 1300 559 869 by 12pm on Monday 23rd May.
Allocations may still be available after this date but will be allocated on a first come first served basis. OUR ALLOCATION HAS NOW BEEN EXHAUSTED.
Westpac Capital Notes 4
Westpac have just launched their latest fixed income hybrid investment at an indicative rate of 4.9%-5.1% over the Bank Bill Swap Rate (BBSW).
Our view is that Westpac's latest issue is priced well and in line with the market but with the added kicker of a higher running yield.
With interest rates expected to fall further, we expect the considerably higher margin to demand a higher premium and Westpac Capital Notes 4 offers value to hybrid investors.
This issue is likely to close at the bottom end of the indicative range of 4.9%-5.2% over the BBSW (indicative rate of 6.89%-7.19%pa - 18/05/16). |