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NEWBCI - ABSA Bank Limited - Newwave Commodity Index Exchange Traded Notes Over The Barclays Capital Commodity Index Pure Beta Total Return ABSA BANK LIMITED ("Commodity Index Notes" or the "ETNs") ABBREVIATED NAME: NEWWINDEX SHARE CODE: NEWBCI ISIN: ZAE000163713 INITIAL OFFER FOR NEWWAVE COMMODITY INDEX EXCHANGE TRADED NOTES OVER THE BARCLAYS CAPITAL COMMODITY INDEX (PURE BETA TOTAL RETURN) (the "Reference Index") This announcement is issued in compliance with section 19.60 of the JSE Listings Requirements for information purposes only. The information set out below has been extracted from the NewWave Pricing Supplement applicable to Commodity Index Notes ("Applicable Pricing Supplement"), as read with the NewWave Commodity Index Notes Product Supplement (dated 3 May 2012) and the NewWave Programme Memorandum (dated 20 February 2012) (collectively, the "offering documents"), which are available as set out below. The Commodity Index Notes will be offered and issued to the public pursuant to the offer, the specific terms and conditions of which are set out in the Applicable Pricing Supplement. Subject to the approval of the JSE Limited ("JSE"), and applications being received for at least the greater of 1000 notes or the rand equivalent of USD500 000 as at the opening of the offer, the Commodity Index Notes are intended to be listed on the main board of the JSE in the JSE`s ETN sub-sector, with effect from 11 June 2012. DESCRIPTION OF COMMODITY INDEX NOTES NewWave Exchange Traded Notes (ETNs) constitute unconditional, unsecured and unsubordinated obligations of Absa Bank Limited listed on the JSE. The NewWave Commodity Index Pure Beta ETN is designed to provide investors with cost-effective exposure to broad-based commodities. The NewWave Commodity Index Pure Beta ETN tracks the Barclays Capital Commodity Index Pure Beta Total Return Index (Reference Index) and is designed to allow investors cost-effective access to the returns that are potentially available through an unleveraged investment in futures contracts on physical commodities, less an investor fee. Unlike many other commodity indices which roll their exposure to the corresponding futures contracts in accordance with a pre- determined roll schedule, the Reference Index may roll into one of a number of futures contracts with varying expiration dates. This may mitigate the effect of negative roll yield when commodity markets are in contango. Minimum subscriptions 1,000 Notes or the rand equivalent of USD 500 000 as at the opening date of the offer, whichever is greater
Initial Issue Price The ZAR equivalent of the Initial Index Level plus the Creation Fee (as defined in the Applicable Pricing Supplement) determined on the Initial Valuation Date Initial Issue Date 11 June 2012 Maturity Date On or about 11 June 2022 2. SALIENT DATES AND TIMES OF INITIAL OFFER AND FURTHER ANNOUNCEMENT The salient dates and times of the Offer are set out below: Opening date of Offer 7 May 2012 Closing date of Offer 28 May 2012* Initial Valuation Date 1 June 2012 Publication on SENS 4 June 2012 of results of Offer, including Initial Issue Price Issue Date 11 June 2012 * The Offer Period may be extended by notice on SENS. Investors must advise their Central Securities Depository Participant ("CSDP") or broker of their acceptance of the Offer in the manner and by the cut-off time stipulated by their CSDP or broker. AVAILABILITY OF DOCUMENTATION Copies of the offering documents, and application form in English, may be obtained during normal business hours from Absa Capital, Investments team, 15 Alice Lane, Sandton (+27 11 895 5517) or on the website (www.absacapitaletfs.com). Sandton 7 May 2012 Originator, corporate advisor and sponsor Absa Capital (the investment banking division of Absa Bank Limited, affiliated with Barclays) Legal and tax advisors Edward Nathan Sonnenbergs Inc. Date: 07/05/2012 09:49:07 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
