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New Financial Instrument Listing Announcement – IVC338
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 – IVC338
Application has been made to the JSE Limited ("JSE") for the listing of R100,000,000 (one hundred
million Rand) senior unsecured iTraxx Xover Series 41 floating rate credit linked Notes (stock code
IVC338), under Investec Bank Limited's Credit Linked Note Programme dated 17 March 2021.
The IVC338 Notes will be issued to Noteholders on the date of listing being with effect from
14 April 2025 commencement of trade.
Salient features of the IVC338 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R100,000,000 per Note on the Issue
Date
Instrument Senior unsecured credit linked Notes
Issue Date 14 April 2025
Nominal Amount per Note R100,000,000
Interest Rate ZAR-JIBAR-SAFEX with a Designated
Maturity of 3 months plus a margin of
385bps from the date beginning on and
including the Issue Date to but
excluding the Scheduled Maturity Date
Scheduled Maturity Date 20 July 2030
Issue price per Note 100%
Final Redemption Amount per Note The greater of (i) the Calculation
Amount plus the aggregate of the
Recovery Amounts in respect of all the
Reference Entities in respect of which a
Credit Event has occurred (if any) plus
unpaid interest accrued (if any) up to
but excluding the Scheduled Maturity
Date ; and (ii) zero
Interest Commencement Date Issue Date
Books Closed Period The Register will be closed from:
(i) 10 January to 20 January, 10
April to 20 April, 10 July to 20
July and 10 October to 20
October (inclusive of the first
date and exclusive of the last) in
each year until the Applicable
Redemption Date; or
(ii) 10 (ten) days prior to and
excluding any Payment Day
Last Day to Register 9 January, 9 April, 9 July, and 9 October
in each year, or if such day is not a
Business Day, the Business Day before
each Books Closed Period, or in
respect of item 42(ii) above, the last
Business Day immediately preceding
the commencement of the Books
Closed Period
Interest Payment Dates 20 July, 20 October, 20 January and 20
April of each year until the Applicable
Redemption Date 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), with the first Interest
Payment Date being 20 July 2025
Business Day Convention Modified Following Business Day
JSE Stock Code IVC338
ISIN ZAG000214909
Aggregate Nominal Amount of Notes Outstanding ZAR15 390 495 226 (fifteen billion
under the Programme after this issuance three hundred and ninety million four
hundred and ninety five thousand two
hundred and twenty six Rand)
The Pricing Supplement does not contain any additional
terms and conditions or changes to the terms and
conditions as contained in the Programme
Memorandum other than additional terms regarding the
calculation of:
Final Redemption Amounts details of which are set out
in paragraph 29 (Calculation Amount) read with
paragraph 39 (Final Redemption Amount) and of the
Applicable Pricing Supplement; and
Interest Amount and the Cash Settlement Amount
details of which are set out in paragraph 29 (Calculation
Amount) read with paragraph 45(k) (Other terms relating
to the particular method of calculating Interest) and
paragraph 54 (Cash Settlement Provisions) of the
Applicable Pricing Supplement.
Investors should study the Applicable Pricing
Supplement for full details of the terms and conditions
applicable to these Notes.
Date: 11 April 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 11-04-2025 12:59:00
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