Financial Instrument Redemption Announcement - “SBRN12”
The Standard Bank of South Africa Limited
Financial Instrument Redemption Announcement - "SBRN12"
Stock Code: SBRN12
ISIN Code: ZAE000301685
SBRN12 Final Redemption / SBRN66 Issuance
Holders of the listed SBRN12 Equity Index Linked Notes ("the
Notes") which are redeeming on 25 February 2025 are informed
that the level of the index was determined and calculated on 18
February 2025 as 199.91 and the FX Final Level was determined
and calculated on 18 February 2025 as ZAR18.3700/USD1.00.
Following this determination and calculation holders of the
Notes are advised as follows:
1. Option 1: Holders who elected not to follow Option 2 or
Option 3 mentioned in the SENS Announcement of 29 January
2025, but rather to roll their investment in SBRN12 Notes
into a new Market Multiplier ("SBRN66"), the level of the
Index was determined on 18 February 2025 as 199.91. For each
SBRN12 Note that is rolled into SBRN66 Notes (ISIN
ZAE000343711), the holders will receive 6.7563 SBRN66 Notes
(ISIN ZAE000343711) per SBRN12 Note allocated to their
custody accounts on 25 February 2025.
1. Option 2: Holders who elected to receive delivery of the ETFs
which the relevant holder bought on the Trade Date of the
Notes adjusted to be equal to the redemption value of the
Notes, will receive the relevant ETFs (allocated to their
accounts on 25 February 2025).
2. Option 3: Holders who elected not to roll the investment into
SBRN066 (that is, not to follow Option 1) or not to receive
delivery of the ETFs on the Maturity Date (that is, not to
follow Option 2), but elected to instruct Standard Bank to
sell the ETFs on behalf of the holders of the Notes and pay
the redemption amount of such sale of the ETFs to the holder
of the Notes, will receive on 25 February 2025 an amount of
675627South African cents per the Note equivalent to the value
of the relevant ETFs held by them on the Record Date.
3. Holders who did not make an election from options 1 to 3 by
12:00pm on 17 February 2025, option 3 will apply by default.
4. After the issue and delivery of the SBRN66 Notes (Option 1)
or delivery of the ETFs (Option 2) on 25 February 2025 or
payment of the sale proceeds of the ETFs (Option 3) 25
February 2025, the Notes (SBRN12) will be de-listed from the
JSE on 26 February 2025.
Dated: 19 February 2025
Sponsor – The Standard Bank of South Africa Limited
For further information on the Notes issued please contact:
Johann Erasmus SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za
Date: 19-02-2025 01:10:00
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