No sorry, read the PDS. TTXPA holders can ask for a redemption on any reset date or trigger event. The issuer can then redeem the TAPS, exchange TAPS into a number HDF securities or resell them by arranging a third party to acquire the TAPS. If you don't request redemption on the reset date and new terms were set for the notes then they would apply to you until the next reset date, a trigger event or until maturity.
Why are they the best non bank hybrid on the market? if HDF fails note holders rank behind senior debt. I think they should be safe though.
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