HSBC has announced plans to open a private banking office in Australia. The bank will target high net worth individuals and family offices with investable assets of more than A$10 million. It estimates that there are 29,500 Australian households in that group. The local private banking team will draw the expertise of HSBC's private banking offices throughout the region. Mortgage specialist Firstmac has reissued a class of RMBS notes first issued in 2013. The A$145 million of A2R notes are being issued to refinance £85 million of sterling denominated notes issued in November 2013. Pricing on the A2R notes, which have a weighted average life of 3.3 years, is 130 basis points over the one-month bank bill swap rate.