All, Got below offer from my trading account Any one has purchased capital notes from any lender previously? Risks/ Benefits? Things to watch out for? If anyone has done it, your experience would help a lot Thanks in advance. Issuer Westpac Banking Corporation (ABN 33 007 457 141) (“Westpac”) Minimum Investment Applications must be for a minimum of 50 Notes ($5,000). If your application is for more than 50 Notes, you must apply in multiples of 10 Notes ($1,000) thereafter. Type of Security Capital Note Size of Offer $750 million, with the ability to raise more or less Issue Price $100 per Note Margin Expected to be in the range of 4.90% to 5.10% per annum and will be determined at the end of the Bookbuild Distribution Rate (90 day Bank Bill Rate + Margin) x (1 – Tax Rate) As an example, the 90 day Bank Bill Rate at 12 May 2016 was 1.9950% ASX Quotation Westpac will apply for the Notes to be quoted on the ASX and the Notes are expected to trade under the ASX code WBCPG. Risks Before investing in the Notes, you should consider whether the Notes are a suitable investment for you. The MoneySmart website (www.moneysmart.gov.au) is run by ASIC to help people make smart choices about their personal finances. In particular, it includes guidance for retail investors who are considering investing in bonds. Notes are subject to risks which could affect their performance, including distribution rate risk and market price fluctuation. Information about the key risks of investing in Notes and an investment in Westpac are detailed in Section 5 of the Prospectus.