Westpac (ASX:WBC) has announced it has priced US$1.25 million of US Securities and Exchange Commission (SEC) registered securities.
The tier 1 perpetual, subordinated, contingent convertible capital securities have a fixed interest rate of 5 per cent per annum, with the first reset date due in ten years.
The securities are expected to be issued next week on Thursday.
Westpac said the securities will be used for general corporate purposes.
Shares in Westpac (ASX:WBC) are trading at up a tick over 1 percent to $31.98