Westpac Private Bank is pleased to announce the launch of our new  and very innovative term deposit product, Coupon Select Deposit.

A Coupon Select Deposit, is a tailored term deposit, that combines a fixed rate of interest for a period and then a floating rate for the remaining term. The combination of the fixed and floating terms is determined upfront  by the investor and can be from 1 to 10 years in aggregate.

The benefits for the investor are quite significant:

·         You can tailor your Coupon Select Deposit to match your interest rate view. eg being invested in the floating rate when you expect interest rates to rise.

·         The fixed term offers a highly competitive interest rate with interest paid quarterly in arrears.

·         The floating term locks in an attractive margin over the 3 – month Australian Bank Bill Swap reference rate (3m BBSW). Again interest is paid quarterly in arrears.

·         Coupon Select Deposits carry the same credit risk as Westpac Term Deposits and  may be eligible for the government guarantee, subject to the aggregate deposits limit of $1million per customer.

·         Minimum investment is $100,000.

Please note that this offer is only available to Australian residents.

A short marketing flyer is attached.  If this sparks your interest then upon request we will send your a copy of the Product Disclosure Statement and the attached application form.

Interest rate quotes can readily be prepared upon request. As an example:

·         A 5 year Coupon Select Deposit with the first 24 months fixed then the following 36 months as floating would indicatively  be 6.2%pa fixed followed by 3m BBSW + 50bps floating. BBSW is currently about 3.20%pa.

We would be very happy to discuss this further and would welcome your call.