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ABSA BANK LIMITED - Early Redemption-AB06

Release Date: 26/02/2015 10:15
Code(s): AB06     PDF:  
Wrap Text
Early Redemption-AB06

Absa Bank Limited
(Incorporated with limited liability in South Africa under registration number 1986/004794/06)
Bond Code: AB06
ISIN Code: ZAG000029315
(“Absa Bank” or the “Issuer”)

TIER 2 INSTRUMENT EARLY REDEMPTION–AB06


Absa Bank – AB06 Tier 2 Notes (“the Notes”) were issued with a final maturity date of 27 March
2020, however, are redeemable at the Issuer’s option on 27 March 2015 (“Optional Redemption
Date”) in accordance with condition 9.3 (Redemption at the Option of the Issuer) of the Terms and
Conditions of the Notes (as read with the Applicable Pricing Supplement).

In terms of condition 8.3 (“Payment Day”) and condition 16 (“Notices”) of the Terms and Conditions
of the Notes, notice is hereby given to Noteholders that the Issuer has exercised its right to early
redeem the Notes on 27 March 2015. Payment of the redemption amount, together with applicable
interest, will be effected on the Optional Redemption Date.

The redemption of the Notes will amount to a ZAR 2,000,000,000.00 nominal reduction of Tier 2
capital and the amount outstanding after the redemption will be ZAR NIL. Absa Bank will maintain its
strong capital position subsequent to the early redemption of this note.




                Capital Redemption Amount          Amount Outstanding After Capital Redemption

  AB06          ZAR 2,000,000,000.00               ZAR 0.00



Contact details:

Richard Favis      011 895 7661

Kea Sape           010 245 4310


26 February 2015

Debt sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)

Date: 26/02/2015 10:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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