FIRSTRAND BANK LIMITED - FRS166 and FRS170 - Notification of the Full and Partial Capital Reduction of Listed Debt Securities

FRS166 and FRS170 - Notification of the Full and Partial Capital Reduction of Listed Debt Securities

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
Bond code: FRS166       ISIN: ZAG000145756
Bond code: FRS170       ISIN: ZAG000145954
(FRB)


NOTIFICATION OF THE FULL AND PARTIAL CAPITAL REDUCTION OF LISTED DEBT SECURITIES

FULL CAPITAL REDUCTION OF LISTED DEBT SECURITIES

In accordance with the terms and conditions of FRB’s ZAR 30 000 000 000 Note programme dated 29
November 2011, as amended or restated from time to time, bondholders are herewith advised of the full
capital reduction of the FRS166 currency linked notes.

Bond code:                                            FRS166
ISIN:                                                 ZAG000145756

Nominal amount before reduction:                      ZAR 4 894 621.00
Reduction of nominal amount:                          ZAR 4 894 621.00
Nominal amount after reduction:                       ZAR 0.00
Early redemption amount:                              ZAR 516,685.33
Calculation of early redemption amount:               FRA = [ANA * (1 + {1 / FSF})] * FX1 / FX0, all
                                                      definitions used in this calculation as per the pricing
                                                      supplement, with FX1 as 16.595, plus/minus the
                                                      breakage costs associated with the underlying hedges
Pay date of the repurchase:                           N/A, as these notes will be settled free of value
Settlement date of the repurchase:                    24 June 2019
Effective date of the reduction in nominal amount:    24 June 2019
Accrued interest amount:                              ZAR 0.00
Annualised interest rate:                             0%, as the 3 month EURIBOR rate is still negative
Interest period:                                      2 May 2019 to 23 June 2019
Interest rate for the relevant interest period:       0%, as the 3 month EURIBOR rate is still negative
Calculation of interest amount:                       IA = [ANA * SF * DCF * Max(0, OI – RI)] * FX, all
                                                      definitions used in this calculation as per the pricing
                                                      supplement
URL to the pricing supplement: https://www.firstrand.co.za/InvestorCentre/Pages/debt-programmes.aspx


The FRS166 notes will be settled free of value. The full capital reduction is due to the repurchase of the listed
debt securities by the issuer.


PARTIAL CAPITAL REDUCTION OF LISTED DEBT SECURITIES

In accordance with the terms and conditions of FRB’s ZAR 30 000 000 000 Note programme dated 29
November 2011, as amended or restated from time to time, bondholders are herewith advised of the partial
capital reduction of the FRS167 currency linked notes.

Bond code:                                             FRS170
ISIN:                                                  ZAG000145954

Nominal amount before reduction:                       ZAR 4 216 550.00
Reduction of nominal amount:                           ZAR 2 108 275.00
Nominal amount after reduction:                        ZAR 2 108 275.00
Early redemption amount:                               ZAR 746 879.16
Calculation of early redemption amount:               FRA = [ANA * (1 + {1 / FSF})] * FX1 / FX0, all
                                                      definitions used in this calculation as per the pricing
                                                      supplement, with FX1 as 14.7625, plus/minus the
                                                      breakage costs associated with the underlying hedges
Pay date of the repurchase:                           N/A, as these notes will be settled free of value
Settlement date of the repurchase:                    24 June 2019
Effective date of the reduction in nominal amount:    24 June 2019
Accrued interest amount:                              ZAR 37 294.99, included in the early redemption amount
Annualised interest rate:                             2.579%
Interest rate for the relevant interest period:       0.37448%
Interest period:                                      2 May 2019 to 23 June 2019
Calculation of interest amount:                       IA = [ANA * SF * DCF * Max(0, OI – RI)] * FX, all
                                                      definitions used in this calculation as per the pricing
                                                      supplement, with FX as 14.7625
URL to the pricing supplement: https://www.firstrand.co.za/InvestorCentre/Pages/debt-programmes.aspx


The FRS170 notes will be settled free of value. The partial capital reduction is due to the repurchase of the
listed debt securities by the issuer.



21 June 2019

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

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