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NWF007 NWF008 - Declaration Announcement: Noteholder Early Redemption Election
NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE Alpha Code: NBKP
(Nedbank or the Issuer)
DECLARATION ANNOUNCEMENT: NOTEHOLDER EARLY REDEMPTION ELECTION OF NWF007 AND
NWF008
1. Background
Noteholders are referred to the equity linked notes NWF007 and NWF008 issued by Nedbank on 28 November
2019 under its ZAR120,000,000,000 Structured Note Programme in terms of their respective Applicable
Pricing Supplements (APS1 and APS2).
Nedbank hereby notifies Noteholders of the occurrence of the Noteholder Early Redemption Election, as
defined in APS1 and APS2, in respect of the following listed instruments:
Instrument Type: Equity Linked Note
Short Name: NWF007
Alpha Code: NWF007
Long Name: NWF007 01 June 2033
Instrument Number: 88614
ISIN: ZAE000281473
Instrument Type: Equity Linked Note
Short Name: NWF008
Alpha Code: NWF008
Long Name: NWF008 01June 2033
Instrument Number: 88613
ISIN: ZAE000281465
Defined terms in this announcement are with reference to the relevant APS1 and APS2.
2. Indicative Early Redemption Amounts
NWF007
Specified Denomination per Note: ZAr 1,000 (1,000 cents)
Initial Exchange Rate: 14.7842
Indicative current USD/ZAR exchange rate for final exchange: 16.45
Indicative Autocall Redemption Amount: ZAr [TBD]([x] cents)
NWF008
Specified Denomination per Note: ZAr 1,000 (1,000 cents)
Initial Exchange Rate: 14.7842
Indicative current USD/ZAR exchange rate for final exchange: 16.45
Indicative Autocall Redemption Amount: ZAr [TBD] ([x] cents)
3. Noteholder Early Redemption Election Options
NWF007
Option 1: Cash Settlement – Receive ZAr [TBD] ([x] cents) (indicative as per the example in paragraph 2
above)
Option 2 (default election): Remain invested – ZAr [TBD] ([x] cents) can be rolled into a Note with new
economics (as per paragraph 6 below)
NWF008
Option 1: Cash Settlement – Receive ZAr [TBD] ([x] cents) (indicative as per the example in paragraph 2
above)
Option 2 (default election): Remain invested – ZAr [TBD] ([x] cents) can be rolled into a Note with new
economics (as per paragraph 6 below)
4. Default Election
If no instruction is received from the Noteholder(s) by the Early Redemption Date Last Day to Trade, the
default election (Option 2 above) will apply.
5. Salient Dates for Noteholders that Elect Option 1
NWF007
The following corporate action timetable applies for NWF007:
Last date and time for Noteholders to make an 27 October 2026
election before 11:00 (Early Redemption Date)
Finalisation announcement before 11:00 29 November 2026
(confirmation of the Cash Settlement Amount)
Last Day to Trade (LDT) 14 December 2026
Suspension Date 15 December 2026
Record Date 18 December 2026
Cash Settlement Payment Date 21 December 2026
Termination Date 22 December 2026
NWF008
The following corporate action timetable applies for NWF008:
Last date and time for Noteholders to make an 27 October 2026
election before 11:00 (Early Redemption Date)
Finalisation announcement before 11:00 29 November 2026
(confirmation of the Cash Settlement Amount)
Last Day to Trade (LDT) 14 December 2026
Suspension Date 15 December 2026
Record Date 18 December 2026
Cash Settlement Payment Date 21 December 2026
Termination Date 22 December 2026
6. Indicative Amended Terms for Noteholders that Make No Election
Where the Noteholder does not elect Cash Settlement (Option 1), the Note will be rolled with new economics
as summarised below:
NWF007
Where:
"CSA" means the Cash Settlement Amount;
“GF” means the Growth Factor, being 1.33;
"SD" means the Specified Denomination;
“×” means multiply by;
"FIL" means the Final Index Level;
"IIL" means the Initial Index Level;
"Cap" means 115% of IIL, being 3252.12;
“PF” means the participation factor, being 2.30;
"Floor" means 85% of IIL, being 2403.74;
"FXF" means the final USD/ZAR currency exchange rate as determined by the Calculation/Issuer Agent on
or about the Expiration Date;
"FXI" means the initial USD/ZAR currency exchange rate, being 14.7842;
"USD" means the lawful currency of the United States of America; and
"ZAR" means the lawful currency of the Republic of South Africa.
NWF008
Where:
"CSA" means the Cash Settlement Amount;
“GF” means the Growth Factor, being 1.36;
"SD" means the Specified Denomination;
“×” means multiply by;
"FIL" means the Final Index Level;
"IIL" means the Initial Index Level;
"Cap" means 115% of IIL, being 3252.12;
“PF” means the participation factor, being 2.50;
"Floor" means 85% of IIL, being 2403.74;
"FXF" means the final USD/ZAR currency exchange rate as determined by the Calculation/Issuer Agent on
or about the Expiration Date;
"FXI" means the initial USD/ZAR currency exchange rate, being 14.7842;
"USD" means the lawful currency of the United States of America; and
"ZAR" means the lawful currency of the Republic of South Africa.
Please refer to the formula set out in the Applicable Pricing Supplements.
7. Further Information
The APSs and further information relating to NWF007 and NWF008 are available on Nedbank’s website
under the Structured Note Programme via the following link Debt Investors | Nedbank
20 October 2026
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 20/10/2026 04:52:00
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