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Westpac completes redemption of US$525M of trust preferred securities

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Westpac completes redemption of US$525M of trust preferred securities

WestpacBanking Corp. said April 1 that it all of its outstanding 2004trust preferred securities worth US$525 million.

The bank paid US$1,000 for each of the securities, plus afinal distribution of US$26.28 per security, on March 31.