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New Financial Instrument Listing Announcement – IVC312
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004763/06)
Issuer code: BIINLP
LEI No: 549300RH5FFHO48FXT69
New Financial Instrument Listing Announcement – IVC312
Application has been made to the JSE Limited ("JSE") for the listing of R100,000,000 (one hundred
million Rand) senior unsecured floating rate credit linked Notes (stock code IVC312), under Investec
Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC312 Notes will be issued to Noteholders on the date of listing being with effect from
14 October 2024 commencement of trade.
Salient features of the IVC312 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R1,000,000 per Note on the Issue Date
Instrument Senior unsecured credit linked Notes –
(iTraxx Xover – Series 42)
Issue Date 14 October 2024
Nominal Amount per Note R1,000,000
Interest Rate JIBAR-SAFEX with a Designated
Maturity of 3 months plus a margin of
4.19% (four point one nine percent) for
the period beginning on and including
the Issue Date to but excluding the
applicable Redemption Date (adjusted
in accordance with the applicable
Business Day Convention)
If ZAR-JIBAR-SAFEX ceases to be the
approved Reference Rate, the Reference
Rate will be the replacement Reference
Rate (together with a spread (if applicable))
determined by the Calculation Agent in its
sole discretion taking into account
prevailing market practice and any spread
published by a governmental authority or
industry body and notified to the
Noteholders in accordance with Condition
19 (Notices) of the Programme
Memorandum
Scheduled Maturity Date 20 January 2030
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Final Redemption Amount per Note The greater of (i) (a) the Calculation
Amount plus unpaid interest accrued (if
any) up to but excluding the Scheduled
Maturity Date, less (b) Unwind Costs
(if any) incurred by the Issuer as a result
of the occurrence of any one or more
Reference Event Determination Dates
in respect of the Reference Entities and
(ii) zero
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
(i) 10 January to 20 January,
10 April to 20 April, 10 July to
20 July and 10 October to
20 October, in each year
(including the first date but
excluding the last date of each
period) until the applicable
Redemption Date, provided that
there will be no Books Close
Period from 10 October 2024 to
20 October 2024; or
(ii) From the date that is 10 (ten)
days prior to any Payment Day
until (but excluding) the
Payment Date
Last Day to Register 9 January, 9 April, 9 July and
9 October in each year, provided that
there will be no Last Day to Register on
9 October 2024. If any such day is not a
Business Day, the Business Day before
each Books Closed Period, or, if item
(ii) above is applicable, the Business
Day immediately preceding the
commencement of the Books Close
Period
Interest Payment Dates Means 20 January, 20 April,
20 July and 20 October in each year
until the applicable Redemption Date
or, if any such day is not a Business
Day, the Business Day on which
interest will be paid, as determined in
accordance with the applicable
Business Day Convention (as specified
in the Applicable Pricing Supplement)
with the first Interest Payment Date
being 20 January 2025
Business Day Convention Following Business Day
JSE Stock Code IVC312
ISIN ZAG000209651
Aggregate Nominal Amount of Notes Outstanding ZAR12,158,404,573 (twelve billion
under the Programme after this issuance one hundred and fifty eight million four
hundred and four thousand five hundred
and seventy three Rand).
The Pricing Supplement contains any additional The following terms in the Applicable
terms and conditions or changes to the terms and Pricing Supplement differ from the
conditions as contained in the Programme terms in the Programme Memorandum:
Memorandum.
(1) the calculation of:
(a) the Early Redemption Amount
when a Related Transaction
Early Redemption Event, Tax
Event, illegality or an Event of
Default occurs;
(b) the Calculation Amount for
purposes of calculating the
interest payable on the Notes;
(c) the Cash Settlement Amount
per Note in the event of a Credit
Event occurring in respect of
one or more Reference Entities
(d) the accrual of interest in the
event that a Credit Event occurs
in respect of one or more
Reference Entities;
(e) the provisions related to the
settlement method applicable in
the event of a Credit Event
occurring in respect of one or
more Reference Entities;
(f) the insertion of a new definition
for Unwind Costs, Relevant
CDS and Recovery Amount;
and
(g) an additional early redemption
event namely, the Related
Transaction Early Redemption
Event was included.
Investors should study the Applicable Pricing
Supplement for full details of the terms and
conditions applicable to these Notes.
Date: 11 October 2024
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 11-10-2024 09:30:00
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