| Mon 7 May 2012, 9:49 | | NEWBCI - ABSA Bank Limited - Newwave Commodity Index Exchange Traded Notes Over |
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JSE
ABSAB
NEWBCI - ABSA Bank Limited - Newwave Commodity Index Exchange Traded Notes Over
The Barclays Capital Commodity Index Pure Beta Total Return
ABSA BANK LIMITED
("Commodity Index Notes" or the "ETNs")
ABBREVIATED NAME: NEWWINDEX
SHARE CODE: NEWBCI
ISIN: ZAE000163713
INITIAL OFFER FOR NEWWAVE COMMODITY INDEX EXCHANGE TRADED NOTES OVER THE
BARCLAYS CAPITAL COMMODITY INDEX (PURE BETA TOTAL RETURN) (the "Reference
Index")
This announcement is issued in compliance with section 19.60 of the JSE Listings
Requirements for information purposes only. The information set out below has
been extracted from the NewWave Pricing Supplement applicable to Commodity Index
Notes ("Applicable Pricing Supplement"), as read with the NewWave Commodity
Index Notes Product Supplement (dated 3 May 2012) and the NewWave Programme
Memorandum (dated 20 February 2012) (collectively, the "offering documents"),
which are available as set out below.
The Commodity Index Notes will be offered and issued to the public pursuant to
the offer, the specific terms and conditions of which are set out in the
Applicable Pricing Supplement. Subject to the approval of the JSE Limited
("JSE"), and applications being received for at least the greater of 1000 notes
or the rand equivalent of USD500 000 as at the opening of the offer, the
Commodity Index Notes are intended to be listed on the main board of the JSE in
the JSE`s ETN sub-sector, with effect from 11 June 2012.
DESCRIPTION OF COMMODITY INDEX NOTES
NewWave Exchange Traded Notes (ETNs) constitute unconditional, unsecured and
unsubordinated obligations of Absa Bank Limited listed on the JSE.
The NewWave Commodity Index Pure Beta ETN is designed to provide investors with
cost-effective exposure to broad-based commodities.
The NewWave Commodity Index Pure Beta ETN tracks the Barclays Capital Commodity
Index Pure Beta Total Return Index (Reference Index) and is designed to allow
investors cost-effective access to the returns that are potentially available
through an unleveraged investment in futures contracts on physical commodities,
less an investor fee. Unlike many other commodity indices which roll their
exposure to the corresponding futures contracts in accordance with a pre-
determined roll schedule, the Reference Index may roll into one of a number of
futures contracts with varying expiration dates. This may mitigate the effect of
negative roll yield when commodity markets are in contango.
Minimum subscriptions 1,000 Notes or the rand equivalent of USD 500 000 as
at the opening date of the offer, whichever is greater
Initial Issue Price The ZAR equivalent of the Initial Index Level plus the
Creation Fee (as defined in the Applicable Pricing
Supplement) determined on the Initial Valuation Date
Initial Issue Date 11 June 2012
Maturity Date On or about 11 June 2022
2. SALIENT DATES AND TIMES OF INITIAL OFFER AND FURTHER ANNOUNCEMENT
The salient dates and times of the Offer are set out below:
Opening date of Offer 7 May 2012
Closing date of Offer 28 May 2012*
Initial Valuation Date 1 June 2012
Publication on SENS 4 June 2012
of results of Offer,
including Initial
Issue Price
Issue Date 11 June 2012
* The Offer Period may be extended by notice on SENS. Investors must advise
their Central Securities Depository Participant ("CSDP") or broker of their
acceptance of the Offer in the manner and by the cut-off time stipulated by
their CSDP or broker.
AVAILABILITY OF DOCUMENTATION
Copies of the offering documents, and application form in English, may be
obtained during normal business hours from Absa Capital, Investments team, 15
Alice Lane, Sandton (+27 11 895 5517) or on the website
(www.absacapitaletfs.com).
Sandton
7 May 2012
Originator, corporate advisor and sponsor
Absa Capital
(the investment banking division of Absa Bank Limited, affiliated with Barclays)
Legal and tax advisors
Edward Nathan Sonnenbergs Inc.
Date: 07/05/2012 09:49:07 Produced by the JSE SENS Department.
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completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
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