Bank Capital Notes

I would like to buy some bank capital notes and was wondering if you have any preferences in this area?

A: The market is now pretty efficient so that the notes all trade around the same margin.

You could look at one of the recent Westpac issues – WBCPI (Westpac Capital Notes 6). It pays a margin of 3.7% over the 90 day bank bill. It is offered on the ASX at 100.23.

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