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New Financial Instrument Listing Announcement – IVC328
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 – IVC328
Application has been made to the JSE Limited ("JSE") for the listing of R30,000,000 (thirty million
Rand) senior unsecured floating rate credit linked Notes (stock code IVC328), under Investec Bank
Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme Memorandum").
The IVC328 Notes will be issued to Noteholders on the date of listing being with effect from
10 March 2025 commencement of trade.
Salient features of the IVC328 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R1,000,000 per Note on the Issue Date
Instrument Senior unsecured credit linked Notes
Issue Date 10 March 2025
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a margin of:
2.10% (two-point one zero 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)
Reference Rate ZAR-JIBAR-SAFEX with a Designated
Maturity of 3 months or, if ZAR-
JIBAR-SAFEX ceases to be the
approved Reference Rate, the
replacement Reference Rate (together
with a spread (if applicable))
determined by the Calculation Agent in
its sole discretion taking into account
prevailing market practice and any
spread published by a governmental
authority or industry body and notified
to the Noteholders in accordance with
Condition 34 (Notices)
Maximum Interest Rate 10.39% (ten point three nine percent)
Scheduled Maturity Date 31 March 2032
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Final Redemption Amount per Note The outstanding Principal Amount per
Note (plus accrued unpaid interest, if
any, to, but excluding, the Scheduled
Maturity Date)
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
(i) 21 March to 31 March, 20 June
to 30 June, 20 September to 30
September and 21 December to
31 December, in each year
(inclusive of the first date and
exclusive of the last date) until
the Applicable Redemption
Date; or
(ii) 10 (ten) days prior to but
excluding any Payment Date
Last Day to Register 20 March, 19 June, 19 September and
20 December in each year, or if such
day is not a Business Day, the Business
Day before each Books Closed Period,
or the last Business Day immediately
preceding the commencement of the
Books Closed Period
Interest Payment Dates 31 March, 30 June, 30 September and
31 December in each year and the
applicable Redemption Date and with
the first Interest Payment Date being
30 June 2025 or, if such day is not a
Business Day, the Business Day on
which interest will be paid, as
determined in accordance with the
applicable Business Day Convention
(as specified in the Applicable Pricing
Supplement)
Business Day Convention Following Business Day
JSE Stock Code IVC328
ISIN ZAG000213281
Aggregate Nominal Amount of Notes Outstanding ZAR13 094 495 226, (thirteen billion
under the Programme after this issuance ninety-four million four hundred and
ninety five thousand two hundred and
twenty six Rand)
An additional early redemption event,
the Reference Obligation Early
Redemption Event was included. The
calculation of the Early Redemption
Amount when a Reference Obligation
Early Redemption Event, Tax Event,
illegality or an Event of Default differs
from the calculation of an early
redemption amount stipulated in the
Programme Memorandum. The Credit
Event Redemption Amount per Note
(the fall-back settlement) also differs
from the formula stipulated in the
Programme Memorandum.
The Pricing Supplement contains any additional terms
and conditions or changes to the terms and conditions
as contained in the Programme Memorandum.
Investors should study the Applicable Pricing
Supplement for full details of the terms and conditions
applicable to these Notes.
Date: 6 March 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 06-03-2025 02:40:00
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