FIRSTRAND BANK LIMITED - FRC300 - Listing of New Financial Instrument

FRC300 - Listing of New Financial Instrument

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
Bond code: FRC300
ISIN: ZAG000159674
(FRB)


LISTING OF NEW FINANCIAL INSTRUMENT

The JSE Limited has granted FirstRand Bank Limited the listing of its senior unsecured unsubordinated credit-linked
notes, in terms of its note programme (the programme) dated 29 November 2011, as amended and updated from time
to time, effective 23 May 2019.

Debt security code:                          FRC300
ISIN:                                        ZAG000159674
Nominal issued:                              ZAR 100 000 000.00
Type of debt security:                       Credit-linked structured notes
Issue date:                                  23 May 2019
Issue price:                                 100%
Coupon rate:                                 3 month JIBAR plus 308 basis points
Interest commencement date:                  23 May 2019
Interest determination date(s):              The first Business Day of each Interest Period
First interest payment date:                 25 July 2019
Interest payment date(s):                    25 July, 25 October, 25 January and 25 April of each year until the
                                             Maturity Date
Last day to register:                        By 17:00 on 20 July, 20 October, 20 January and 20 April of each year
                                             until the Maturity Date
Books close:                                 21 July, 21 October, 21 January and 21 April of each year until the
                                             Maturity Date
Business day convention:                     Modified Following Business Day
Maturity date:                               25 April 2023, subject to paragraph 51 of the pricing supplement
Final maturity amount:                       100% of the aggregate nominal amount outstanding at the Maturity Date,
                                             provided that if the Reference Obligation is not redeemed in its entirety
                                             on the Call Date (as defined in the terms and conditions applicable to the
                                             Reference Obligation set out in the Prospectus dated 23 April 2018 as
                                             published by the Reference Entity on
                                             https://www.absa.africa/content/dam/africa/absaafrica/pdf/dmtn/2018/fixe
                                             d-rate-reset-callable-subordinated.pdf), then the Final Redemption
                                             Amount will be the Recovery Amount (as defined in paragraph 37 of the
                                             pricing supplement) determined on or about the Maturity Date.
Other:                                       The pricing supplement contains changes to the terms and conditions as
                                             contained in the programme
Summary of additional terms:                 Please refer to the net asset value event and reference obligation early
                                             redemption event, final redemption amount, early redemption amount and
                                             credit-linked note provisions contained in the pricing supplement

Programme amount:                            ZAR 30 000 000 000.00
Total notes in issue under programme:        ZAR 17 789 320 950.58
Dealer:                                      FirstRand Bank Limited, acting through its Rand Merchant Bank division

The notes will be immobilised in the Central Securities Depository and settlement will take place electronically
in terms of JSE Rules.
This note has been privately placed by FirstRand Bank Limited. Any prospective purchaser of the note should
contact FirstRand Bank Limited for details of the terms of the note. In this regard, prospective purchasers
should be aware that:

1. The note issued is subject to the terms and conditions of the pricing supplement agreed between the issuer
and the subscriber(s) for the note and the terms and conditions of the notes as set out in the programme
memorandum dated 29 November 2011, as amended and updated from time to time, in respect of the issuer’s
note programme.

2. The performance of each note issued is linked to the performance of an underlying third party entity and/or
obligation stipulated in the pricing supplement in respect of the note and accordingly, as the prospective
purchaser will assume credit exposure to both the issuer and such entity and/or obligation, the note is only
suitable for purchase by financially sophisticated investors after conducting all relevant independent
investigations. The risks pertaining to credit-linked notes generally are more fully set out in the programme
memorandum. Copies of the programme memorandum are available from the issuer.

22 May 2019

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 22/05/2019 12:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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