Bond WestPac Bank 0% ( AU3FN0073359 ) in AUD

Issuer	WestPac Bank
Market price	100 % ▲
Country	Australia
ISIN code	AU3FN0073359 ( in AUD )
Interest rate	0%
Maturity	11/11/2025
Prospectus brochure in PDF format is unavailable at this time We will provide it as soon as possible
Minimal amount	/
Total amount	/
Detailed description	Westpac Banking Corporation is Australia's second-largest bank by assets, offering a diverse range of financial services including personal and business banking, wealth management, and institutional banking across Australia, New Zealand, and the Pacific Islands. A bond issuance from Westpac Banking, identified by ISIN AU3FN0073359, is currently observable in the financial markets. This specific debt instrument, denominated in Australian Dollars (AUD) and issued from Australia, presents unique characteristics, particularly concerning its yield profile and maturity structure. Westpac Banking Corporation, commonly known as Westpac, stands as one of Australia's 'Big Four' banks and a significant financial services provider in Australasia. Established in 1817, it is Australia's first and oldest bank, offering a comprehensive range of banking and financial services, including consumer, business, and institutional banking, wealth management, and insurance. As a systemically important financial institution, its debt instruments are generally perceived as having a high credit quality, reflecting the bank's strong market position, robust capitalization, and diversified operations within a stable economic environment. This particular bond, ISIN AU3FN0073359, is categorized as a zero-coupon bond. Unlike conventional bonds that make periodic interest payments (coupons) to investors, zero-coupon bonds are issued at a discount to their face value and mature at par, with the investor's return derived from the difference between the purchase price and the face value received at maturity. In this specific instance, the bond has a stated interest rate of 0%, confirming its zero-coupon nature. The bond's current market price is quoted at 100% of its face value. For a zero-coupon bond, trading at par (100%) with a stated interest rate of 0% implies that its Yield-to-Maturity (YTM) is also 0%. This means an investor purchasing the bond at its current market price and holding it until its maturity date of November 11, 2025, would not realize any capital gain from a discount to par, nor receive any interest payments. Such a pricing scenario for a multi-year maturity bond is uncommon and would typically be associated with specific market conditions, or a particular investor objective focused solely on capital preservation, potentially linked to other underlying assets not detailed in these basic bond parameters. The bond is set to mature on November 11, 2025, with the principal repayment occurring as a single event at that date, consistent with its zero-coupon structure.