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Westpac to redeem subordinated notes

Westpac Banking Corp. will redeem all of the 9,252,850 subordinated notes II on the series' Aug. 22 first optional redemption date.

Each holder of subordinated notes will be paid the face value of A$100 and a final interest payment of A$1.0700 each for every note held on the register, according to a July 5 release.

The record date for the final payment is Aug. 14, the Australian bank said.