INVESTEC BANK LIMITED - Notice of Rebate for Hot Enhanced Dividend (BTIIHF)

Notice of Rebate for Hot Enhanced Dividend (BTIIHF)

INVESTEC BANK LIMITED
NOTICE OF REBATE FOR HOT ENHANCED DIVIDEND BTIIHF

Share           British American Tobacco PLC



Strike Price                                   R718.00
Stop-Loss Level                                R814.00
Expiry Date                                    2017/07/12
Cover Ratio                                    1:1

Call/Put                                       Call
Style                                          American
Issue Size                                     400 000
JSE Code                                       BTIIHF
ISIN Code                                      ZAE000221834



Investec Bank Limited, as Issuers of the BTIIHF Hot Enhanced Dividend Security (HOTEDs), advised holders that
due to the breach of the stop loss level of R814.00 in the Underlying Share, as of close of business on Friday, 21
October 2016 the abovementioned HOTED was terminated

The Rebate Payment, represented by the number of HOT EDS held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R718.00. This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on 24 October 2016 = R786.7913
The VWAP on 25 October 2016 = R795.8698
The simple average of the 2 day VWAP = R791.3305

Holders will receive R73.3305 for every warrant held.

26 October 2016

Copies of the offering circular may be obtained from:
        Investec Bank Limited
        100 Grayston Drive
        Sandown
        Sandton
        2196

For further information contact:
         Investec Warrants
         Tel.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investec.co.za

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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