| Fri 24 Nov 2023, 16:50 | | New Financial Instrument Listing Announcement - INLV15 |
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New Financial Instrument Listing Announcement - INLV15
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 13800CU7SM6O4UWOZ70
New Financial Instrument Listing
Announcement
ISSUE OF INLV15 SUBORDINATED UNSECURED CALLABLE FLOATING RATE
TIER 2 NOTES ("INLV15 NOTES")
Application has been made to the JSE Limited ("JSE") for the listing of ZAR750,000,000
(seven hundred and fifty million Rand) subordinated unsecured callable floating rate
Tier 2 Notes (stock code INLV15), under Investec Limited's Domestic Medium Term Note
and Preference Share Programme dated 15 November 2017.
The INLV15 Notes will be issued to Noteholders on the date of listing being
27 November 2023 with effect from commencement of trade.
Salient features of the INLV15 Notes are listed below:
Issuer Investec Limited
Instrument subordinated unsecured callable
Tier 2 Notes, subject to Write Off if
a Trigger Event occurs in relation to
the Issuer
Issue Date 27 November 2023
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R750,000,000
Interest Rate 3-month JIBAR plus the Margin
Interest Rate Determination Date means 27 February, 27 May,
27 August, and 27 November in
each year as determined in
accordance with the applicable
Business Day Convention (as
specified in the Applicable Pricing
Supplement), provided that the first
Interest Determination Date shall be
on 27 November 2023
Margin 1.95%
Maturity Date 27 November 2033
Issue price per Note 100%
Final Redemption Amount per Note The aggregate outstanding Nominal
Amount (plus accrued interest, if
any, to the Maturity Date)
Redemption at the option of the Issuer Applicable, subject to the applicable
Regulatory Capital Requirements
and Condition 10.1.8 (Conditions to
redemption, purchase, cancellation,
modification, substitution or
variation of Subordinated Capital
Notes). The Optional Redemption
Date is 27 February 2029 and on
each Interest Payment Date
thereafter.
Early Redemption Amount The outstanding Nominal Amount
per Note plus accrued unpaid
interest (if any)
Interest Commencement Date 27 November 2023
Books Close Period The Register will be closed from
18 February to 27 February, 18 May
to 27 May, 18 August to 27 August
and 18 November to 27 November
in each year (all dates inclusive)
until the Applicable Redemption
Date, or 10 days prior to any
Payment Day
Last Day to Register Close of business on the Business
Day immediately preceding the first
day of a Books Close Period
Interest Payment Dates 27 February, 27 May, 27 August
and 27 November in each year, with
the first Interest Payment Date
being 27 February 2024
Business Day Convention Following Business Day
JSE Stock Code INLV15
ISIN ZAG000200601
Aggregate Nominal Amount of Notes Outstanding ZAR15,249,674,116
in the Series after this issuance
The Pricing Supplement does not contain any
additional terms and conditions or changes to the
terms and conditions as contained in the
Programme Memorandum.
Investors should study the Applicable Pricing
Supplement for full details of the terms and
conditions applicable to these Notes.
Date: 24 November 2023
Debt Sponsor:
Investec Bank Limited
bongani.ntuli@investec.co.za
Date: 24-11-2023 04:50:00
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