FIRSTRAND BANK LIMITED - Notice to elect to make no interest payments

Notice to elect to make no interest payments

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1929/001225/06)
Company code: FRBII
(FRB)




          NOTICE TO ELECT TO MAKE NO INTEREST PAYMENT IN TERMS OF
          PARAGRAPH 22(J) OFTHE APPLICABLE PRICING SUPPLEMENTS UNDER 
          THE FIRSTRAND BANK LIMITED ZAR30,000,000,000 NOTE PROGRAMME


1.    In terms of this notice the Issuer of the Applicable Pricing Supplements issued under
      the FirstRand Limited ZAR30,000,000,000 Note Programme (the Programme)
      established pursuant to a programme memorandum dated 29 November 2011 (the
      Programme Memorandum) elects to make no Interest Payment on the next Interest
      Payment Date, which is 15 June 2016 to any Noteholders of:

1.1        applicable pricing supplement dated 3 February 2012 (the FRC95 Applicable
           Pricing Supplement) in relation to the issue of ZAR4,000,000 Credit Linked
           Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC95)
           (the FRC95 Notes);

1.2        applicable pricing supplement dated 20 February 2012 (the FRC98 Applicable
           Pricing Supplement) in relation to the issue of ZAR12,000,000 Credit Linked
           Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC98)
           (the FRC98 Notes);

1.3        applicable pricing supplement dated 4 June 2012 (the FRC117 Applicable
           Pricing Supplement) in relation to the issue of ZAR8,300,000 Credit Linked
           Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC117)
           (the FRC117 Notes);

1.4        applicable pricing supplement dated 12 June 2013 (the FRC175 Applicable
           Pricing Supplement) in relation to the issue of ZAR20,000,000 Credit Linked
           Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC175)
           (the FRC175 Notes);

           the FRC95 Notes, the FRC98 Notes, the FRC117 Notes and the FRC175 Notes,
           together constituting the Notes and the FRC95 Applicable Pricing Supplement, the
           FRC98 Applicable Pricing Supplement, the FRC117 Applicable Pricing Supplement
           and the FRC175 Applicable Pricing Supplement, together constituting the Applicable
           Pricing Supplements.
2.     Capitalised terms used herein which are not otherwise defined shall bear the meaning
       ascribed thereto in the Terms and Conditions (read together with the Additional Terms
       and Conditions of Credit-Linked Notes (the Credit-Linked Annex)) where the context
       requires.




        NOTICE TO ELECT TO MAKE NO PAYMENT OF INTEREST IN TERMS OF
        PARAGRAPH 11 OF THE APPLICABLE PRICING SUPPLEMENTS UNDER 
        THE FIRSTRAND BANK LIMITED ZAR15,000,000,000 STRUCTURED NOTE
        AND PREFERENCE SHARE PROGRAMME




3.     In terms of this notice the Issuer of the Applicable Pricing Supplements issued under
       the FirstRand Bank Limited ZAR15,000,000,000 Structured Note and Preference
       Share Programme (the Programme) established pursuant to a programme
       memorandum dated 11 February 2008 (the Programme Memorandum) elects to
       make no Interest Payment on the next Interest Payment Date, which is 15 June 2016
       to any Noteholders of:

3.1         applicable pricing supplement dated 10 October 2014 (the FRC78 Applicable
            Pricing Supplement) in relation to the issue of ZAR22,350,000 Credit Linked
            Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC78)
            (the FRC78 Notes); and

3.2         applicable pricing supplement dated 17 November 2011 (the FRC82 Applicable
            Pricing Supplement) in relation to the issue of ZAR2,100,000 Credit Linked
            Notes with Scheduled Termination Date of 15 June 2016 (Stock Code FRC82)
            (the FRC82 Notes),

            the FRC78 Notes and the FRC82 Notes, together constituting the Notes and the
            FRC78 Applicable Pricing Supplement and the FRC82 Applicable Pricing Supplement,
            together constituting the Applicable Pricing Supplements.

4.     Capitalised terms used herein which are not otherwise defined shall bear the meaning
       ascribed thereto in the Terms and Conditions where the context requires.




       16 March 2016

       Debt Sponsor
       Rand Merchant Bank (A division of FirstRand Bank Limited)

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