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Investec Bank Limited - New Financial Instrument Listing
Investec Bank Limited
New Financial Instrument Listing Announcement
ISSUE OF H10T1 SENIOR SECURED FLOATING RATE NOTES (“H10T1 NOTES”)
Application has been made to the JSE Limited (“JSE”) for the listing of ZAR139,000,000 (One Hundred and Thirty
Nine Million Rand) senior secured floating rate Notes (stock code H10T1), issued pursuant to Harcourt Street 1
(RF) Limited’s Programme Memorandum dated 17 February 2016 (as amended or supplemented), the Applicable
Issuer Supplement executed by Harcourt Street 1 (RF) Limited dated 17 February 2016 (as amended and
supplemented) and the Applicable Transaction Supplement executed by Harcourt Street 1 (RF) Limited dated 18
December 2019 (as amended and supplemented) (“the Programme Documents”)
The H10T1 Notes will be issued to Noteholders on the date of listing being 2 March 2020 with effect from
commencement of trade.
Salient features of the H10T1 Notes are listed below:
Issuer Harcourt Street 1 (RF) Limited
Instrument Senior Secured Floating Rate Notes
Issue Date 2 March 2020
Nominal Amount per Note ZAR1,000,000
Interest Rate The Reference Rate plus the Margin. The
Reference Rate is three month JIBAR,
provided that the Reference Rate in respect
of the first Interest Period shall be an
interpolated rate between one month JIBAR
and three months JIBAR, as determined by
the Calculation Agent on the Issue Date
Interest Determination Date In respect of the first Interest Period, the
Issue Date. With respect to subsequent
Interest Periods, the Reference Rate will be
reset on 26 February, 26 May, 26 August
and 26 November of each year, as adjusted
in accordance with the applicable Business
Day Convention
Margin 1.80% per annum until but excluding the
Issuer Call Date (as referred to in item 14
above) stepping up to 2.70% per annum
from and including the Step up Date until
the Final Maturity Date
Final Maturity Date 26 February 2024
Optional Redemption Date (Issuer Call Date) 26 February 2023
and Step-up Date
Issue price per Note 100%
Final Redemption Amount per Note Each Note shall be redeemed in cash at an
amount equal to the Principal Amount
Outstanding plus accrued but unpaid
interest, if any, to the date of redemption of
the Sub-Series of Notes, subject to the
applicable Sub-Series Priority of Payments
Interest Commencement Date Issue Date
Books Close Period from 22 February to 26 February (both days
inclusive), from 22 May to 26 May (both
days inclusive), from 22 August to 26
August (both days inclusive) and from 22
November to 26 November (both days
inclusive)
Last Day to Register By 17h00 on the Business Day immediately
preceding the first day of a Books Closed
Period, which shall mean that the Register
will be closed from 17h00 on each Last Day
to Register to the following Interest Payment
Date
Interest Payment Dates 26 February, 26 May, 26 August, and 26
November, or if such day is not a Business
Day, the Business Day on which the interest
will be paid, as determined in accordance
with the applicable Business Day
Convention (as referred to in item 11 above)
Business Day Convention Following Business Day
JSE Stock Code H10T1
ISIN ZAG000166703
Aggregate Nominal Amount of Notes Outstanding in the ZAR139,000,000 (One Hundred and Thirty
Series after this issuance Nine Million Rand)
The Pricing Supplement contains additional terms and (i) The Issuer is entitled to acquire
conditions or changes to the terms and conditions as Replacement Assets on the terms set out in
contained in the Programme Documents item 41 of the Applicable Pricing
Supplement,
(ii) The Issuer shall redeem all or a portion
of the Notes in the event of a prepayment by
the Participating Asset, as set out in item 78
of the Applicable Pricing Supplement.
(iii) The Issuer is entitled to redeem all of the
Notes If a Change in Law Event or an
Illegality has occurred, as set out in item 79
of the Applicable Pricing Supplement.
Investors should study the Applicable Pricing Supplement for
full details of the terms and conditions applicable to these
Notes.
Date: 28 February 2020
Debt Sponsor:
Investec Bank Limited
abotha@investec.co.za
Date: 28-02-2020 12:35:00
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