Before you invest
Read the prospectus in full
Although Bank Hybrids have some common features, the terms of each Bank Hybrid are different. It is important that you read the relevant prospectus in its entirety before deciding to invest. These are generally available on each respective issuing bank’s website.
In considering whether to invest in a Bank Hybrid, it is important to consider all risks and other information regarding that investment in light of your particular investment objectives, financial situation, needs and circumstances.
Obtain personal advice from a financial adviser
If you are a retail investor who wishes to apply for a Bank Hybrid through a primary offer, you must obtain personal advice from a financial adviser to ensure that your particular objectives, financial situation and needs have been considered in making your investment decision and that you are within the target market for that Bank Hybrid (which will be set out in the Target Market Determination created by the bank for that offer).
If you are a retail investor who wishes to invest in a Bank Hybrid that has already been issued (for example, by purchasing it on the ASX), it is recommended that you seek personal advice which takes into account your particular investment objectives, financial situation, needs and circumstances.
ASIC has published guidance on how to choose a financial adviser on its MoneySmart website at https://moneysmart.gov.au/financial-advice/choosing-a-financial-adviser.
Consider the ASIC guidance for retail investors
Further guidance on investing in Bank Hybrids can be found on ASIC’s MoneySmart website.
In addition, to further your understanding of Bank Hybrids, see the ASX website here.
Obtain more information about the issuing bank and the relevant Bank Hybrid
Issuers of Bank Hybrids publish information on the ASX which may have a material effect on the price of the Bank Hybrid. You should consider reading this information before deciding to invest in Bank Hybrids.
Further information about Westpac’s financial results, including profit announcements and annual reports, may be found here.