Funds Focus

Westpac Bank has just announced the launch of a new income offer: Westpac Subordinated Notes II.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in August.

The Notes will pay a quarterly coupon of 2.30%-2.45% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.76% as of 12th July, with an initial indicative rate of 5.06%-5.21%pa. (The first pricing is due to be set on date of issue) The Notes are

The misconception that fully franked is better than unfranked income
Over the last 2 years, we have had the pleasure of dealing with hundreds of investors taking advantage of our service on the hybrids/ income securities that we have seen coming to market. You will have noticed that over time we have gradually been building up our research to provide investors with some analysis on how to compare products and where we see these sitting within portfolios. However, one of the common

National Australia Bank has just announced the launch of a new income offer: NAB Convertible Preference Shares (CPS).The first round of access is through a broker firm allocation, prior to shareholder offer and listing in March.

The Notes will pay a quarterly coupon of 3.2%-3.4%pa (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 3.03% as of 13th February, with an initial indicative rate of 6.23%-6.43%pa. (The first pricing is due to be set on date of