ABSA BANK LIMITED - ASN028 - Notice of succession event

ASN028 - Notice of succession event

ABSA BANK LIMITED
(Incorporated in terms of the laws of the Republic of South Africa)
(Company Registration No: 1986/004794/06)
JSE Code: ASN028
ISIN No: ZAG000118266

Notice of Succession Event: Absa Bank Limited (the “Issuer”)//JD Group Limited
(“JD Group”)
Notes: JD Group Series 4 Credit Linked Notes (the “Notes”)

1. This notice of Succession is delivered by the Issuer to each holder of the Notes
   (each a “Note Holder”) that have been issued under the Issuer’s
   ZAR40,000,000,000 Master Structured Note Programme dated 21 October 2013
   (the “Programme”).
2. Capitalised terms used herein which are not otherwise defined shall bear the
   meaning ascribed thereto in the Programme.
3. The Issuer wishes to notify each Note Holder that:
     3.1 effective 13 November 2015, a Successor event has occurred with
         respect to JD Group following the sale and transfer of certain of its assets
         and liabilities to Steinhoff Services Limited; and
     3.2 as a consequence of the Successor event Steinhoff Services Limited has
         now become the relevant Replacement Reference Entity.
4. The Issuer hereby advises that the Replacement Reference Entity shall be
   Steinhoff Services Limited with the details of the Substitute Reference Obligation
   being as set out in Annex I below.
5. Further to this, please find attached a copy of the relevant article which
   constitutes the best available information confirming the occurrence of the
   Successor event described herein.
6. This notice shall be governed and construed in accordance with the laws of
   South Africa and nothing herein shall be construed as a waiver of any of the
   rights that the Issuer may have with respect to the Notes.

For further information, please contact:

Ms. Bonnie Brink
Debt Sponsor: Absa Bank Limited, 15 Alice Lane, Sandton, 2196
Tel: (011) 895 6843

ANNEX I                            Specified Reference Obligation

Reference           Reference      Description          Senior or       Absa Bond
Entity              Entity         (ISIN/CUSIP)         Subordinated    Code
                    Weighting

Steinhoff           5%             ZAG000131343         Senior          ASN028
Services Limited

7 March 2016

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)

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