| Thu 26 Jun 2025, 13:40 | | New Financial Instrument Listing Announcement – IVC353 |
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New Financial Instrument Listing Announcement – IVC353
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 – IVC353
Application has been made to the JSE Limited ("JSE") for the listing of R110,000,000 (one hundred
and ten million Rand) senior unsecured floating rate credit linked Notes (stock code IVC353), under
Investec Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC353 Notes will be issued to Noteholders on the date of listing being with effect from
30 June 2025 commencement of trade.
Salient features of the IVC353 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 Crossover Index – Series 43)
Issue Date 30 June 2025
Nominal Amount per Note R1,000,000
Interest Rate JIBAR-SAFEX with a Designated
Maturity of 3 months plus a margin of:
2.22% (two point two two 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)
Scheduled Maturity Date 20 July 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 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; or
(ii) From the date that is 10 (ten)
days prior to (but excluding)
any Interest Payment Date
Last Day to Register 9 January, 9 April, 9 July and 9 October
in each year. 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 Closed
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 July 2025, as determined in
accordance with the applicable
Business Day Convention.
Business Day Convention Modified Following Business Day
JSE Stock Code IVC353
ISIN ZAG000217019
Aggregate Nominal Amount of Notes Outstanding ZAR17,040,495,225.96 (seventeen billion
under the Programme after this issuance forty million four hundred and ninety-five
thousand, two hundred and twenty-five
Rand and ninety-six cents).
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 and Relevant
CDS; 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: 26 June 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 26-06-2025 01:40:00
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