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New Financial Instrument Listing Announcement – IVC372
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004763/06)
Issuer code: BIINLP
LEI No: 549300RH5FFHO48FXT69
New Financial Instrument Listing Announcement – IVC372
Application has been made to the JSE Limited ("JSE") for the listing of R50,000,000 (fifty million Rand)
senior unsecured floating rate credit index linked Notes (stock code IVC372), under Investec Bank
Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme Memorandum").
The IVC372 Notes will be issued to Noteholders on the date of listing being with effect from
9 April 2026 at commencement of trade.
Salient features of the IVC372 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R1,000,000 per Note on the Issue
Date
Instrument Senior unsecured credit index linked
Notes – (iTraxx Xover – Series 45)
Issue Date 9 April 2026
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a Margin of
4.47% (four point four seven percent)
for each period commencing on (and
including) an Interest Payment Date
and ending on (but excluding) the
following Interest Payment Date;
provided that the first Interest Period
will commence on (and include) the
Issue Date and end on (but exclude)
the Interest Payment Date of 20 July
2026, until (but excluding) the
Applicable Redemption Date (each
Interest Payment Date adjusted in
accordance with the applicable
Business Day Convention)
Scheduled Maturity Date 20 July 2031
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Reference Rate Compounded Daily ZARONIA
(Lookback without Observation Shift),
as defined in, and determined in
accordance with the provisions of
Annex C (Screen Rate Determination
for Floating Rate Notes Referencing
Compounded Daily ZARONIA
(Lookback without Observation Shift))
of the Applicable Pricing Supplement
Interest Rate Determination Date The 5th (fifth) Johannesburg Business
Day (as defined in Annex C (Screen
Rate Determination for Floating Rate
Notes Referencing Compounded Daily
ZARONIA (Lookback without
Observation Shift)) prior to (i) the Issue
Date; and (ii) each Interest Payment
Date
Early Redemption Amount "Early Redemption Amount"
means the greater of (i) X and (ii) zero,
where:
X = (a) – (b)
(a) is the applicable Calculation
Amount plus unpaid interest accrued (if
any) up to but excluding the Applicable
Redemption Date; and
(b) is the Unwind Costs in relation to
the Applicable Redemption Date.
Final Redemption Amount The applicable Calculation Amount
Percentage, as at that date, multiplied
by the Principal Amount plus unpaid
interest accrued (if any) up to (but
excluding) the Scheduled Maturity
Date
Interest Commencement Date 9 April 2026
Books Closed Periods The Register will be closed on:
(i) 19 April, 19 July, 19 October
and 19 January in each year,
and in respect of the
Scheduled Maturity Date, 19
July 2031, except that the
Register will not be closed on
19 April 2026; or
(ii) 1 (one) day prior to (but
excluding) any Interest
Payment Date.
Last Day to Register The Last Day to Register will be:
(i) 18 April, 18 July, 18 October
and 18 January in each year,
except that there will not be a
Last Day to Register on 18
April 2026; and
(ii) in respect of the Scheduled
Maturity Date, 18 July 2031; or
(iii) in each such case, if any such
day is not a Business Day, the
Business Day before each
Books Closed Period.
Interest Payment Dates 20 April, 20 July, 20 October and 20
January of each year until the
Applicable Redemption Date, provided
that 20 April 2026 will not be an
Interest Payment Date and the first
Interest Payment Date will be 20 July
2026 or, if such day is not a Business
Day, the Business Day on which
interest will be paid, as determined in
accordance with the applicable
Business Day Convention (as specified
in the Applicable Pricing Supplement),
Business Day Convention Modified Following Business Day
JSE Stock Code IVC372
ISIN ZAG000224379
Aggregate Nominal Amount of Notes Outstanding ZAR18,255,495,226 (eighteen billion
under the Programme after this issuance two hundred and fifty-five million four
hundred and ninety-five thousand two
hundred and twenty-six Rand)
The Pricing Supplement contains any additional The following terms in the Applicable
terms and conditions or changes to the terms and Pricing Supplement differ from the
conditions as contained in the Programme terms in the Programme
Memorandum. Memorandum:
(1) the calculation of:
(a) the Early Redemption Amount
when a Tax Event, illegality, an
Event of Default or a Hedging
Disruption occurs;
(b) the Calculation Amount for
purposes of calculating the
interest payable on the Notes;
(c) the Cash Settlement Amount
per Note in the event of a
Credit Event occurring in
respect of one or more
Reference Entities; and
(d) the accrual of interest in the
event that a Credit Event
occurs in respect of one or
more Reference Entities;
(2) the provision related to the interest
recovery on retrospective Credit
Event Determination Date;
(3) the provisions related to the
settlement method applicable in
the event of a Credit Event
occurring in respect of one or
more Reference Entities; and
(4) the insertion of a new definition for
Attachment Point, Detachment
Point, Unwind Costs and Relevant
CDS.
Investors should study the Applicable Pricing Supplement for full details of the terms and
conditions applicable to these Notes.
Date: 9 April 2026
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 09-04-2026 07:05:00
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