|
New financial instrument listing - IVC351
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 – IVC351
Application has been made to the JSE Limited ("JSE") for the listing of ZAR75,000,000 senior
unsecured floating rate credit linked Notes (stock code IVC351), under Investec Bank
Limited's Credit Linked Note Programme dated
17 March 2021.
The IVC351 Notes will be issued to Noteholders on the date of listing being with effect from
30 May 2025 commencement of trade.
Salient features of the IVC351 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 Main - Series 43
Issue Date 30 May 2025
Nominal Amount per Note R1,000,000
Interest Rate Reference Rate plus the Margin
Reference Rate ZAR-JIBAR-SAFEX with a
Designated Maturity of 3 months
or, if ZAR-JIBAR-SAFEX ceases to
be the approved Reference Rate,
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 or any
spread published by a
governmental authority or industry
body) determined by the
Calculation Agent and notified to
the Noteholders in accordance with
Condition 34 (Notices)
Margin 3.22% (three point two two
percent)
Scheduled Maturity Date 20 July 2030
Issue price per Note 100%
Final Redemption Amount per Note The applicable Calculation Amount
plus unpaid interest accrued (if
any) up to but excluding the date
for redemption.
Interest Commencement Date 30 May 2025
Books Close Period (i) 10 March to 20 March, 10 June
to 20 June and 10 September
to 20 September and 10
December to 20 December
(inclusive of the first date and
exclusive of the last) in each
year until the Applicable
Redemption Date. However,
there will not be a Books Close
Period from 10 June to 20 June
2030 and in respect of the
Scheduled Maturity Date the
Books Close Period will be, 10
July 2030 to 20 July 2030
(inclusive of the first date and
exclusive of the last); or
(ii) 10 (ten) days prior to, but
excluding, any Payment Date
Last Day to Register (i) 9 March, 9 June, 9 September
and 9 December in each year,
or if such day is not a Business
Day, the Business Day before
each Books Closed Period, but
there will not be a Last Day to
Register on 9 June 2030; and
(ii) in respect of the Scheduled
Maturity Date, 9 July 2030 or if
any such day is not a Business
Day, the Business Day before
each Books Closed Period, or
(iii) in respect of item 42(ii) above,
the last Business Day
immediately preceding the
commencement of the Books
Closed Period.
Interest Payment Dates 20 June, 20 September, 20
December and 20 March of each
year until the Applicable
Redemption Date provided that 20
June 2030 will not be an Interest
Payment Date and the Scheduled
Maturity Date will be the last
Interest Payment Date or, if 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 June 2025
Business Day Convention Following Business Day
JSE Stock Code IVC351
ISIN ZAG000215997
Aggregate Nominal Amount of Notes Outstanding ZAR 16 355 495 226. The Issuer
under the Programme after this issuance confirms that the aggregate
Principal Amount of all Notes
Outstanding under this Programme
is within the Programme Amount.
The Pricing Supplement does contain additional The following terms in the
terms and conditions or changes to the terms and Applicable Pricing Supplement
conditions as contained in the Programme differ from the terms in the
Memorandum as set out in the Applicable Pricing Programme Memorandum:
Supplement.
(1) the calculation of:
(a) the Early Redemption Amount;
(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, 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: 29 May 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 29-05-2025 05:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or 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,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||
|
|||||||||
