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New Financial Instrument Listing Announcement – IVC306
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 – IVC307
Application has been made to the JSE Limited ("JSE") for the listing of R25,000,000 (twenty five
million Rand) senior unsecured floating rate credit linked Notes (stock code IVC307), under Investec
Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC307 Notes will be issued to Noteholders on the date of listing being with effect from
15 August 2024 commencement of trade.
Salient features of the IVC307 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R25,000,000 per Note on the Issue Date
Instrument Senior unsecured credit linked Notes –
(iTraxx Xover – Series 41)
Issue Date 15 August 2024
Nominal Amount per Note R25,000,000
Interest Rate JIBAR-SAFEX with a Designated
Maturity of 3 months plus a margin of:
3.05% (three point zero five 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 2029
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, plus (b) each Recovery
Amount; and (ii) zero
Recovery Amount The Cash Settlement Amount
calculated by the Calculation Agent in
relation to each applicable Reference
Entity
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
(i) 10 December to 20
December, 10 March to 20
March, 10 June to 20 June and
10 September to 20 September
(inclusive of the first date and
exclusive of the last) in each
year until the Applicable
Redemption Date, provided that
there will be no Books Closed
Period from 10 June 2029 to 20
June 2029 and there will be a
Books Closed Period from 10
July 2029 to 20 July 2029; or
(ii) From the date that is 10 (ten)
days prior to (but excluding)
any Interest Payment Date
Last Day to Register 9 December, 9 March, 9 June, and 9
September in each year, provided that
there will be no Last Day to Register on
9 June 2029 and there will be a Last
Day to Register on 9 July 2029 or if
such day is not a Business Day, the
Business Day before each Books
Closed Period, or in respect of item
42(ii) above, the last Business Day
immediately preceding the
commencement of the Books Closed
Period
Interest Payment Dates 20 June, 20 September, 20 December
and 20 March of each year until the
Applicable Redemption Date, provided
that there will be no Interest Payment
Date on 20 June 2029 and there will be
an Interest Payment Date on 29 July
2029. If any such day is not a Business
Day, then adjusted in accordance with
the applicable Business Day
Convention (as specified in the
Applicable Pricing Supplement), with
the first Interest Payment Date being 20
September 2024.
Business Day Convention Following Business Day
JSE Stock Code IVC307
ISIN ZAG000207929
Aggregate Nominal Amount of Notes Outstanding ZAR12,431,200,000 (twelve billion,
under the Programme after this issuance four hundred and thirty one million, two
hundred thousand Rand).
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, Relevant
CDS and Recovery Amount;
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: 14 August 2024
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 14-08-2024 01:52:00
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