diff --git a/CHANGELOG.md b/CHANGELOG.md
index 665eb30..d4696ec 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+## 1.3.3
+
+* When a `null` stack trace is passed to a completer or stream controller in
+  nested `Chain.capture()` blocks, substitute the inner block's chain rather
+  than the outer block's.
+
 ## 1.3.2
 
 * Don't crash when running `Trace.terse` on empty stack traces.
diff --git a/lib/src/stack_zone_specification.dart b/lib/src/stack_zone_specification.dart
index 0c1c7d2..25d9642 100644
--- a/lib/src/stack_zone_specification.dart
+++ b/lib/src/stack_zone_specification.dart
@@ -172,12 +172,6 @@
   /// necessary.
   AsyncError errorCallback(Zone self, ZoneDelegate parent, Zone zone,
       Object error, StackTrace stackTrace) {
-    var asyncError = parent.errorCallback(zone, error, stackTrace);
-    if (asyncError != null) {
-      error = asyncError.error;
-      stackTrace = asyncError.stackTrace;
-    }
-
     // Go up two levels to get through [_CustomZone.errorCallback].
     if (stackTrace == null) {
       stackTrace = _createNode(2).toChain();
@@ -185,7 +179,8 @@
       if (_chains[stackTrace] == null) _chains[stackTrace] = _createNode(2);
     }
 
-    return new AsyncError(error, stackTrace);
+    var asyncError = parent.errorCallback(zone, error, stackTrace);
+    return asyncError == null ? new AsyncError(error, stackTrace) : asyncError;
   }
 
   /// Creates a [_Node] with the current stack trace and linked to
diff --git a/pubspec.yaml b/pubspec.yaml
index bc3bc8d..f69417d 100644
--- a/pubspec.yaml
+++ b/pubspec.yaml
@@ -7,7 +7,7 @@
 #
 # When the major version is upgraded, you *must* update that version constraint
 # in pub to stay in sync with this.
-version: 1.3.2
+version: 1.3.3-dev
 author: "Dart Team <misc@dartlang.org>"
 homepage: http://github.com/dart-lang/stack_trace
 description: >