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New Financial Instrument Listing Announcement - INLV13
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 13800CU7SM6O4UWOZ70
New Financial Instrument Listing Announcement
ISSUE OF INLV13 SUBORDINATED UNSECURED CALLABLE FLOATING RATE
ADDITIONAL TIER 1 NOTES (“INLV13 NOTES”)
Application has been made to the JSE Limited (“JSE”) for the listing of ZAR500,000,000 (five
hundred million Rand) subordinated unsecured callable floating rate Additional Tier 1 Notes
(stock code INLV13), under Investec Limited’s Domestic Medium Term Note and Preference
Share Programme dated 15 November 2017.
The INLV13 Notes will be issued to Noteholders on the date of listing being 28 March 2023
with effect from commencement of trade.
Salient features of the INLV13 Notes are listed below:
Issuer Investec Limited
Instrument subordinated unsecured callable
Additional Tier 1 Notes, subject to
Write Off if a Trigger Event occurs in
relation to the Issuer.
Issue Date 28 March 2023
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R500,000,000
Interest Rate 3 month JIBAR plus the Margin
Margin 3.40%
Interest Rate Determination Date means 28 December, 28 March,
28 June and 28 September in each
year as determined in accordance
with the applicable Business Day
Convention (as specified in the
Applicable Pricing Supplement),
provided that the first Interest
Determination Date shall be
28 March 2023
Issue price per Note 100%
Maturity Date Subject to the section titled
“Provisions regarding
Redemption/Maturity” below, this
Tranche of Additional Tier 1 Notes
shall only be redeemed, at the
aggregate outstanding Nominal
Amount of this Tranche plus
accrued unpaid interest (if any), on
a winding-up (other than pursuant to
a Solvent Reconstruction) or
liquidation of the Issuer, subject to
Condition 6.4 (Status of Additional
Tier 1 Notes) (and specifically
Condition 6.4.3 (Subordination))
Final Redemption Amount per Note the outstanding Nominal Amount of
this Tranche plus accrued unpaid
interest (if any)
Redemption at the option of the Issuer Applicable, subject to the applicable
Regulatory Capital Requirements
and Condition 10.1.8 (Conditions to
redemption, purchase, cancellation,
modification, substitution or
variation of Subordinated Capital
Notes). The Optional Redemption
Date is 28 June 2028 or on any
Interest Payment Date thereafter.
Early Redemption Amount The outstanding Nominal Amount
per Note plus accrued unpaid
interest (if any)
Interest Commencement Date 28 March 2023
Books Close Period The Register will be closed from
19 March to 28 March, 19 June to
28 June, 19 September to
28 September and 19 December to
28 December (all dates inclusive) in
each year until the Applicable
Redemption Date, or 10 days prior
to any Payment Date. The first
scheduled Books Close Period will
be from 19 June to 28 June 2023.
Last Day to Register Close of business on the Business
Day immediately preceding the first
day of a Books Close Period
Interest Payment Dates 28 March, 28 June, 28 September
and 28 December in each year, with
the first Interest Payment Date
being 28 June 2023
Business Day Convention Following Business Day
JSE Stock Code INLV13
ISIN ZAG000194960
Aggregate Nominal Amount of Notes Outstanding ZAR12 099 674 116 (twelve billion
in the Series including this issuance but ninety nine million six hundred
excluding all other issuances on this Issue Date seventy four thousand one
hundred and sixteen Rand)
excluding this Tranche of Notes
but including all other Notes and
Programme Preference Shares
issued on the Issue Date
The Pricing Supplement does not contain 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: 27 March 2023
Debt Sponsor:
Investec Bank Limited
Bongani.ntuli@investec.co.za
Date: 27-03-2023 05:33:00
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