ABSA BANK LIMITED - ASN415 - New Financial Instrument Listing

ASN415 - New Financial Instrument Listing

ABSA BANK LIMITED
(Registration number 1986/004794/06)
Bond Code: ASN415
ISIN No: ZAG000166489

NEW FINANCIAL INSTRUMENT LISTING

The JSE Limited has granted a financial instrument listing to ABSA BANK LIMITED “ASN415 NOTES” under its Master
Structured Note Programme Memorandum.

INSTRUMENT TYPE:                                        CREDIT-LINKED FLOATING RATE NOTE

Authorised Programme size                               R40,000,000,000.00
Total Notes in issue                                    R22,601,448,395.25

Full Note details are as follows:

Bond Code                                               ASN415
Nominal Issued                                          R60,000,000.00
Issue Price                                             100%
Coupon Rate                                             9.342 % (3 Month JIBAR as at 21 Feb 2020 of 6.542% plus 280
                                                        bps)
Coupon Rate Indicator                                   Floating
Trade Type                                              Price
Final Maturity Date                                     20 December 2024
Books Close Date(s)                                     10 March, 10 June, 10 September, 10 December
Interest Payment Date(s)                                20 March, 20 June, 20 September, 20 December
Interest Determination Date(s)                          20 March, 20 June, 20 September,                20   December     of
                                                        each year commencing on the issue date
Last Day to Register                                    By 17:00 on 9 March, 9 June, 9 September, 9 December
Issue Date                                              21 February 2020
Date Convention                                         Following
Interest Commencement Date                              21 February 2020
First Interest Payment Date                             20 March 2020
ISIN No.                                                ZAG000166489
Additional Information                                  Unsubordinated Unsecured




Other provisions

Condition 9 titled “Taxation” in the section II-A of the Master Programme Memorandum titled “Terms and Conditions of
the Notes” is amended in relation to this Tranche of Notes by (i) the replacement of the words after the dash in Condition
9.3 with the words “provided that this exception shall only apply to that portion of the withholding or deduction which could
lawfully have been so reduced”, (ii) the deletion of Condition 9.8 and (iii) the insertion of the following additional
paragraphs immediately after Condition 9.7:

“9.8    where such withholding or deduction is imposed on a payment to an individual and is required to be made
        pursuant to European Council Directive 2003/48/EC (or any other directive implementing the conclusions of the
        2312th Economic and Financial Affairs Council (ECOFIN) meeting of 26 and 27 November 2000) on the taxation
        of savings income or any law implementing or complying with, or introduced in order to conform to, such
        directive; or

9.9     held by or on behalf of a Noteholder in circumstances where such party could lawfully reduce the amount of
        taxation otherwise levied or leviable upon the principal or interest by virtue of any tax treaty or non-South African
        tax laws applicable to such Noteholder, whether by way of a tax credit, rebate deduction or reduction equal to all
        or part of the amount withheld or otherwise, and whether or not it is actually claimed and/or granted and/or
        allowed; or

9.10    in respect of any present or future taxes, duties, assessments or governmental charges of whatever nature which
        are payable otherwise than by withholding from payment of principal or interest, if any, with respect to such Note;
        or

9.11    where any combination of the scenarios or occurrences contemplated in Conditions 9.1 to 9.10 above occurs,
        the Issuer is not liable for or otherwise obliged to pay any taxes that may arise as a result of the ownership,
        transfer or redemption of any Note.

If the Issuer becomes subject generally at any time to any taxing jurisdiction, authority or agency other than or in addition
to South Africa, references in Conditions 8.2 (Redemption for Tax Reasons or due to a Change in Law) and 9 (Taxation)
to South Africa shall be read and construed as references to South Africa and/or to such other jurisdiction, authority or
agency.”

21 February 2020

Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 21-02-2020 03:30:00
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