FIRSTRAND BANK LIMITED - GSETNC GSETNQ - Receipt of Dividend Payment and update to the Net Asset Value

GSETNC GSETNQ - Receipt of Dividend Payment and update to the Net Asset Value

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRTN
LEI: ZAYQDKTCATIXF9OQY690
Alpha Code: GSETNC         ISIN: ZAE000293569
Alpha Code: GSETNQ         ISIN: ZAE000293577
(FRB)


RECEIPT OF DIVIDEND PAYMENT AND UPDATE TO THE NET ASSET VALUE

Holders of the GSETNC and GSETNQ exchange traded notes (“ETNs”) are advised that on
Wednesday, 30 December 2020, Goldman Sachs Group Inc paid a dividend of USD 1.25 per share.
As per published guidance, this dividend was synthetically re-invested, net of all taxes, charges and
fees, for our GSETNC and GSETNQ ETNs at the US closing price on Thursday, 31 December
2020. The result of synthetic dividend reinvestment is to increase the fractional number of shares each
ETN references and no distribution or payment will be made.

Dividend amount          USD 1.25 / share
Effective tax rate       50%
Reinvestment amount      USD 0.625 / share
Reinvestment price       USD 263.71 / share

The daily published net asset value (“NAV”) has already been updated to include the effect of the
dividend being paid, which can be viewed at:
https://www.rmb.co.za/page/inward-listed-etns

NAV formulae for the instruments can be found at:
https://www.firstrand.co.za/investors/debt-investor-centre/prospectuses-and-programme-memoranda/
https://www.firstrand.co.za/investors/debt-investor-centre/jse-listed-instruments/



04 January 2020

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 04-01-2021 03:57:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.