INVESTEC BANK LIMITED - Notice of Rebate - NEDIHA

Notice of Rebate - NEDIHA

INVESTEC BANK LIMITED
NOTICE OF REBATE FOR HOT ENHANCED DIVIDEND NEDIHA

Share                              Nedbank Group Limited



Strike Price                       R172.00
Stop-Loss Level                    R195.00
Expiry Date                        2016/08/31
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         200,000
JSE Code                           NEDIHA
ISIN Code                          ZAE000208831



Investec Bank Limited, as Issuers of the NEDIHA Hot Enhanced Dividend Security (HOTEDs), advised Holders
that due to the breach of the stop loss level of R195.00 in the Underlying Share, as of close of business on
Thursday, 10 December 2015 the abovementioned HOTED was terminated.

The Rebate Payment, represented by the number of HOT EDS held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R172.00 This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on, 11 December 2015 = R164.095684
The VWAP on, 14 December 2015 = R182.130996
The simple average of the 2 day VWAP = R173.11

Holders will receive R1.11 for every warrant held.

15 December 2015

Copies of the offering circular may be obtained from:
        Investec Bank Limited
        100 Grayston Drive
        Sandown
        Sandton
        2196

For further information contact:
         Investec Warrants
         Tel.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investec.co.za

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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