Westpac Sub Notes: Is the party nearly over?

Key Points Almost identical to earlier NAB and ANZ Sub Notes offers Preferred to convertible hybrids such as ANZ CPS3 or Westpac CPS If Westpac ever needs assistance, you’ll lose the bulk of your capital Another day, another subordinated note, this time in the form of Westpac‘s Subordinated Note offer. The hybrid party has been continuously rocking since the launch of Woolies Notes II nine months ago. Surely fatigue will set in soon—how long can investors continue to chase yield and turn a blind eye to risk? Perhaps this offer will be the one that calls ‘time’ on the...

Another day, another subordinated note, this time in the form of Westpac‘s Subordinated Note offer.

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