THE STANDARD BANK OF SOUTH AFRICA LIMITED - Announcement of amendments following Credit Event - "CLN406"

Announcement of amendments following Credit Event - "CLN406"

THE STANDARD BANK OF SOUTH AFRICA LIMITED (REGISTRATION NUMBER
1962/000738/06) – Announcement of amendments in respect of
CLN406


NOTICE IS GIVEN TO ALL HOLDERS OF CLN406 ZAR22,141,863.29
iTRAXX® EUROPE CROSSOVER SERIES 23 LISTED NOTE DUE 20 JUNE 2020
(Stock Code: CLN406 and ISIN Code: ZAG000127135) (the “Note”)
issued in terms of The Standard Bank of South Africa Limited’s
Structured Note Programme (the “Programme”)) on 11 June 2015.
Capitalised terms used and not otherwise defined in this
announcement have the meaning given to them in the Pricing
Supplement of the Note, as read with the Programme Memorandum.
Pursuant to the Failure to Pay Credit Event which occurred in
respect of Galapagos Holding S.A. (“Galapagos”), as advised in
an announcement dated 08 August 2019, the Affected Portion
(being the Portion relating to Galapagos) will be amended in the
Pricing Supplement as follows:
1.   the Aggregate Nominal Amount is amended to: ZAR20,672,579.29;
2.   the Nominal Amount of the Affected Portion is amended to:
     - ZAR1,069,284;
3.   the Margin of the Affected Portion is amended to: 0.85%; and
4.   the record date is 15 August 2019.
Notice is given to Noteholders for information purposes only.
No action is required by Noteholders.
Dated 20 August 2019
Sponsor – The Standard Bank of South Africa Limited
For further information on the Note issued please contact:
Johann Erasmus           SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za

Date: 20/08/2019 11:15:00
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