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The Standard Bank of South Africa Limited - Listing of new Actively Managed Certificates - AMC002
The Standard Bank of South Africa Limited
New Financial Instrument Listing Announcement - “AMC002”
Stock Code: AMC002
ISIN Code: ZAE000316667
The JSE Limited has granted a listing to The Standard Bank of
South Africa Limited – AMC002 Actively Managed Certificates due
01 December 2032 - sponsored by The Standard Bank of South
Africa Limited (“the Issuer”) under its Structured Note
Programme (“the Programme”) dated 26 January 2021 which can be
found on the Issuer’s website.
Authorised Programme size ZAR120 000 000 000
Total notes issued
(including current issue) ZAR70 809 107 669.61
Full Note details are as follows:
Issue Date: 01 December 2022
Nominal Issued: ZAR2 000 000
Redemption Basis: Linked to the actively
managed High Street
Offshore Yielding Portfolio
as the Reference Portfolio.
The Reference Portfolio
Manager, High Street Asset
Management (HASM), is a
South Africa based
investment manager that has
been investing in
international markets for
over ten years. A rigorous
bottom-up research
methodology is applied to
all investments with a
particular focus on longer
term fundamental growth
drivers and thorough
analysis of individual
company balance sheet
strength. This methodology
will continue to be
employed in the selection
of the Reference Components
of the Reference Portfolio
of the AMCs, where the
investment mandate will be
to identify global multi-
national companies that can
generate significant cash
flows that will translate
into strong recurring
dividend payments. In
addition, the mandate will
include the ability to
select global companies
that return capital to
shareholders through active
share buyback programmes.
The combination of annual
recurring dividend payments
and share buybacks,
supplemented by the ability
to also invest in high-
yielding government and
corporate bonds, will
result in an overall USD
yield of the portfolio of
approximately 3.5-4%, a
return more than the
current dividend yield on
the S&P 500. This is a
strategy which HSAM has
employed successfully in
other investment
structures, resulting in
enhanced risk-adjusted
returns.
Issue Price: 100 000 ZA cents per Note
Number of Notes: 2 000 Notes
Declaration Date: 09 November 2032, subject
to Preceding Business Day
Convention.
Last Date to Trade: 23 November 2032, subject
to Preceding Business Day
Convention.
Suspension Date: 24 November 2032
Record Date: 26 November 2032
Maturity/Delivery Date: 01 December 2032, subject
to adjustments as detailed
in the Pricing Supplement.
De-Listing Date: 02 December 2032
Business Day Convention: Preceding Business Day
Placement Agent: The Standard Bank of South
Africa Limited
These Notes will be physically settled by delivery of ETFs
(specified in the Pricing Supplement) to holders of the Notes
on the Maturity/Delivery Date specified above.
Additional Terms and Conditions: Investors must read the
Pricing Supplement for full details of the specific terms and
conditions applicable to this specific Note issuance.
Notes will be deposited in the Central Securities Depository
(“CSD”) and settlement will take place electronically in terms
of JSE Rules.
Dated: 01 December 2022
Sponsor – The Standard Bank of South Africa Limited
For further information on the Notes issued please contact:
Johann Erasmus SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za
Date: 01-12-2022 08:45:00
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