ABSA BANK LIMITED - ASN078 - Credit Event in respect of ASN078

ASN078 - Credit Event in respect of ASN078

ABSA BANK LIMITED
(Incorporated with limited liability in South Africa under registration number 1986/004794/06)
(the “Issuer”)

Stock Code: ASN078
ISIN Code: ZAG000128448
(the “Note”)

CREDIT EVENT ANNOUNCEMENT IN RESPECT OF ASN078

Capitalised terms used and not otherwise defined in this notice have the meanings given them in
the Master Programme Memorandum read with the Applicable Pricing Supplement as amended

Notice is given to all holders of ASN078 ZAR10,000,000 iTRAXX Europe Crossover Series 23
Version 5 (the “Index”) listed floating rate portfolio credit linked note due 20 June 2020 issued in
terms of the Issuer’s Master Structured Note Programme on 31 July 2015, that the Issuer has
received notice via an announcement from the International Swaps and Derivatives Association
Inc. (“ISDA”) that its EMEA Credit Derivatives Determinations Committee resolved that a
“Bankruptcy Credit Event” has occurred in respect of Grupo Isolux Corsan Finance B.V. (“Grupo
Isolux”), which is one of the Reference Entities included in the Index.

This Bankruptcy Credit Event happened on or about 5 August 2016, and accordingly the
Relevant Event Determination Date has occurred in respect of Grupo Isolux under the terms of
the Note.

In terms of the provisions of the Applicable Pricing Supplement and the Master Structured Note
Programme:

1.      interest will cease to occur in respect of the portion relating to Grupo Isolux (the
        “Affected Portion”) from 20 June 2016 being the Interest Payment Date occurring
        immediately prior to the Relevant Event Determination Date;

2.      the Calculation Agent will determine and make payment of the relevant Auction
        Settlement and/or the Cash Settlement Amounts in respect of the Affected Portion, minus
        Swap Costs; and

3.      the amount of the Notes equal to the Reference Entity Nominal Amount of the Notes will
        be redeemed and delisted.

A copy of the Credit Event Notice and Notice of Publicly Available Information confirming the
occurrence of the events described above will be made available to Noteholders on request. No
action is required by Noteholders, this Notice is issued for information purposes only.

Further information on the Note issued please contact:
Nico le Roux
Email: nico.leroux@absacapital.com
Tel +27 (0)11 895 5514

09.09.2016

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

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