FIRSTRAND BANK LIMITED - FRC299 - Notification of a Credit Event called by FRB

FRC299 - Notification of a Credit Event called by FRB

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Company code: FRII
Bond Code: FRC299
ISIN: ZAG000159575
(FRB)

NOTIFICATION OF A CREDIT EVENT CALLED BY FRB

Bondholders are advised that FRB hereby gives notice in accordance with the terms and conditions of
the R30 000 000 000.00 note programme dated 29 November 2011, as amended from time to time, of
the occurrence of a credit event on the FRC299 notes, which referenced Weatherford International Ltd
as a constituent of the underlying reference index, Markit CDX North America High Yield Index, as set
out in paragraph 93(e) of the applicable pricing supplement.

Accordingly, FRB advises of the following details of the write-down applicable in accordance with
paragraph 51(D) of the pricing supplement, with the effective/pay date being 1 August 2019.

Bond code:                                   FRC299
ISIN:                                        ZAG000159575
Amount before write-down:                    ZAR 100 000 000.00
Write-down amount:                           ZAR 1 000 000.00
Amount after write-down:                     ZAR 99 000 000.00

The portion of the FRC299 note impacted by the credit event will be cash settled, through STRATE,
with the amount of cash due being ZAR 449 212.16.

The record date in respect of the credit event will be Monday, 29 July 2019.

The pricing supplement will be amended as follows:
    1. to remove the above-mentioned entity from Annexure 2;
    2. the Aggregate Nominal Amount in paragraph 7(a) of the applicable pricing supplement will be
       amended to ZAR99,000,000.00; and
    3. the Number of Notes in paragraph 9 of the applicable pricing supplement will be amended to
       99.

The amended pricing supplement will be made available on the FRB website at
https://www.firstrand.co.za/InvestorCentre/Pages/debt-programmes.aspx.



29 July 2019

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

Date: 29/07/2019 05:20:00
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