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FRS245 - Listing of New Financial Instrument
FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
LEI: ZAYQDKTCATIXF9OQY690
Bond code: FRS245
ISIN: ZAG000173394
(FRB)
LISTING OF NEW FINANCIAL INSTRUMENT
The JSE Limited has granted FRB the listing of its senior unsecured unsubordinated structured notes, in
terms of its note programme (the programme) dated 29 November 2011, as amended from time to time,
effective 4 January 2021.
Debt security code: FRS245
ISIN: ZAG000173394
Type of debt security: Structured notes
Nominal issued: ZAR 3 973 277
Issue date: 4 January 2021
Issue price: 115.77346% of par
Coupon rate: 3 month JIBAR
Interest commencement date: 4 January 2021
Interest determination date(s): 20 March, 20 June, 20 September and 20 December in each year until
the Maturity Date, with the first interest determination date being 4
January 2021
First interest payment date: 20 March 2021
Interest payment date(s): 20 March, 20 June, 20 September and 20 December in each year until
the Maturity Date
Last day to register: By 17:00 on 15 March, 15 June, 15 September and 15 December in each
year until the Maturity Date
Books close: 16 March, 16 June, 16 September and 16 December in each year until
the Maturity Date
Business day convention: Modified Following Business Day
Maturity date: 20 December 2021
Final maturity amount: The maximum of:
a) zero, and
b) 100% of the Aggregate Nominal Amount plus the Additional
Redemption Amount.
“Additional Redemption Amount” means an amount (positive or negative)
determined in accordance with the following formula:
Nominal * Participation * V * FXT
Where:
i. Nominal = Aggregate Nominal Amount;
ii. Participation = 0.522898;
iii. FXT is the USDZAR spot exchange rate 5 (five) Business
Days prior to the Maturity Date; and
iv. V is the mark to market bid value of the Reference Credit
Default Swap (expressed as a percentage of the Fixed
Amount) 5 (five) Business Days prior to the Maturity Date as
determined by the Calculation Agent.
All definitions used in this formula are as per the pricing supplement
Other: The pricing supplement contains additional terms and conditions to the
terms and conditions as contained in the programme
Summary of additional terms: Please refer to the early redemption provisions, early redemption amount
and the definition of Final Redemption Amount in the pricing supplement
Programme amount: ZAR 30 000 000 000.00
Total notes in issue under programme: ZAR 22 895 933 340.93
Dealer: Rand Merchant Bank, a division of FirstRand Bank Limited
31 December 2020
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 31-12-2020 09:40:00
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