THE STANDARD BANK OF SOUTH AFRICA LIMITED - Redemption Notice - SBAEI and SBACI

Redemption Notice - SBAEI and SBACI

The Standard Bank of South Africa Limited
Redemption Notice - SBAEI and SBACI

Stock Code:     SBAEI and SBACI
ISIN:           ZAE000156568 (SBAEI) and ZAE000159398 (SBACI)


This is a notice to Noteholders by The Standard Bank of South Africa Limited (the “Issuer”) under the
Issuer’s ZAR60,000,000,000 Domestic Medium Term Note Programme dated 01 December 2010 (the
“Programme Memorandum”) (as supplemented by the relevant Applicable Pricing Supplement) in
relation to the following Note issuance:
A.    ZAR200,000,000 Senior Unsecured African Equity Index Linked Notes due 17 May 2021 (Stock
      Code: SBAEI) (ISIN: ZAE000156568); and
B.    ZAR100,000,000 Senior Unsecured Commodity Index Linked Notes due 18 August 2021 (Stock
      Code: SBACI) (ISIN: ZAE000159398).

The aforementioned Note issuances are hereinafter referred to individually as a “Security” and
collectively as the “Securities”.

Notice is hereby given to Noteholders of the respective Securities that:

1.    the Issuer has exercised its option to redeem the Securities in whole in accordance with Condition
      9.3 of the Programme Memorandum as well as paragraph 35 of the Applicable Pricing Supplement
      relating to each Security;

2.    a Hedging Disruption (as contemplated in paragraph 35(e)(i)(I)(B) of the Applicable Pricing
      Supplement relating to each Security) has occurred and consequently the Issuer is unable to
      maintain all its Hedges. Also, the Securities have not gathered significant assets and as such the
      number of Securities in issue is small and the operating costs of running the Securities are high
      relative to its size which is not beneficial to Noteholders;

3.    the Issuer is of the opinion that it is in the best interest of Noteholders to exercise its option to
      redeem the Securities early;

4.    the last day to trade in the Securities will be Tuesday, 24 March 2020;

5.    the Securities will be suspended at commencement of trade on Wednesday, 25 March 2020;

6.    the Issuer will publish a Stock Exchange News Service (“SENS”) announcement on Wednesday,
      25 March 2020, detailing the amount (the Optional Redemption Amount (Call)) to be paid to the
      Securities Noteholders;

7.    the record date to participate in the Redemption will be Friday, 27 March 2020;

8.    the Issuer will pay the Optional Redemption Amount (Call) on the Optional Redemption Date
      (Call), being Monday, 30 March 2020, to Strate Proprietary Limited (“Strate”) following which
      the Issuer will be discharged of its payment obligations;

9.    each of the persons shown in the records of Strate and/or the Participants as the holder of a
      particular number of Notes in respect of the Securities must look solely to Strate and/or the relevant
      Participant for his/her/its share of each such payment so made by the Issuer to, or to the order of,
      Strate; and
10.   the Securities will be terminated at the commencement of trade on Tuesday, 31 March 2020.


Capitalised terms which are used but not defined in this notice shall have the meaning assigned to them in
the respective Applicable Pricing Supplements or the Programme Memorandum, as the case may be.
If you are not the ultimate beneficial holder in respect of the Securities, or if you have recently
disposed of the Securities, please forward this notice to the ultimate beneficial holder or purchaser
respectively and notify Strate and/or the Participants of the identity of the ultimate beneficial holder or
purchaser.


Dated 02 March 2020
Sponsor – The Standard Bank of South Africa Limited

For further information on the redemption of Securities contemplated in this notice, please contact:

Johann ErasmusSBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za

Date: 02-03-2020 04:45:00
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