FIRSTRAND BANK LIMITED - FRC178 -Notification of an Early Redemption of Debt Securities in terms of the Programme and Par29(E)(i) of the APS

FRC178 -Notification of an Early Redemption of Debt Securities in terms of the Programme and Par29(E)(i) of the APS

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
LEI: ZAYQDKTCATIXF9OQY690
Bond Code: FRC178
ISIN: ZAG000107897
(FRB or the Issuer)


NOTIFICATION OF AN EARLY REDEMPTION OF LISTED DEBT SECURITIES IN TERMS OF
CONDITIONS 10.4 AND 11.3.1.4 OF THE PROGRAMME AND PARAGRAPH 29(e)(i) OF THE
APPLICABLE PRICING SUPPLEMENT


1. The Issuer hereby notifies the noteholders of the ZAR50,000,000 Credit Linked Notes (the
   Noteholders) with a Scheduled Termination Date of 6 August 2023 (Stock Code FRC178, ISIN
   ZAG000107897) (the Notes), issued in terms of the Applicable Pricing Supplement dated 7
   August 2013 (the Applicable Pricing Supplement) under the FirstRand Bank Limited
   ZAR30,000,000,000 Note Programme (the Programme) established pursuant to a programme
   memorandum dated 29 November 2011, as amended from time to time (the Programme
   Memorandum), that the Issuer has elected to early redeem the Notes, in accordance with
   conditions 10.4 and 11.3.1.4 of the Programme Memorandum and pursuant to paragraph 29(e)(i)
   of the Applicable Pricing Supplement, on the Early Redemption Date specified below (the Early
   Redemption).

2. The early redemption event described in paragraph 29(e)(i) of the Applicable Pricing Supplement
   states that an early redemption of the Notes would occur if, in the Calculation Agent’s then
   estimation, the Early Redemption Amount is equal to or less than 30% of the Aggregate Nominal
   Amount (the Trigger Event).

3. Accordingly, and pursuant to the provisions of condition 22 of the Programme Memorandum, the
   Issuer hereby notifies the Noteholders of the following in relation to the Early Redemption:

                Bond Code:                                    FRC178
                ISIN:                                         ZAG000107897
                Number of Notes to be redeemed:               50
                Tranche Number:                               1
                Series Number:                                178
                Nominal Amount before the Early Redemption:   ZAR9,608,400.00
                Reduction in Nominal Amount:                  ZAR9,608,400.00
                Nominal Amount after the Early Redemption:    ZAR 0.00
                Early Redemption Amount:                      ZAR2,697,078.00
                Date on which the Trigger Event occurred:     24 March 2020
                Record date:                                  23 March 2020
                Early Redemption Date:                        27 March 2020
                Early Redemption Payment Date:                31 March 2020

4. Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed
   thereto in the Programme Memorandum and the Applicable Pricing Supplement where the
   context requires.



25 March 2020

Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa

Date: 25-03-2020 10:10:00
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