Sharenet Sites 
Sharenet Sites
New Financial Instrument Listing Announcement – IVC362
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 – IVC362
Application has been made to the JSE Limited ("JSE") for the listing of R500,000,000 (five hundred
million Rand) senior unsecured floating rate credit index linked Notes (stock code IVC362), under
Investec Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC362 Notes will be issued to Noteholders on the date of listing being with effect from
04 November 2025 commencement of trade.
Salient features of the IVC362 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 44)
Issue Date 04 November 2025
Nominal Amount per Note R1,000,000
Interest Rate ZAR-JIBAR-SAFEX with a
Designated Maturity of 3 months, or, if
ZAR-JIBAR-SAFEX ceases to be the
approved Reference Rate, the
replacement Reference Rate (together
with a spread (if applicable)
determined by the Calculation Agent
in its sole discretion taking into
account prevailing market practice or
any spread published by a
governmental authority or industry
body) determined by the Calculation
Agent and notified to the Noteholders
in accordance with Condition 19
(Notices), plus a margin of 2.18% (two
point one eight percent) for the period
beginning on and including the Issue
Date to but excluding the applicable
Redemption Date (adjusted in
accordance with the applicable
Business Day Convention)
Scheduled Maturity Date 20 January 2031
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Final Redemption Amount per Note The greater of (x) 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 and (y) zero
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
(i) 10 March to 20 March, 10 June
to 20 June and 10 September to
20 September and 10
December to 20 December
(inclusive of the first date and
exclusive of the last) in each
year until the Applicable
Redemption Date. However,
there will not be a Books Close
Period from 10 December to 20
December 2030 and in respect
of the Scheduled Maturity Date
the Books Close Period will be
10 January 2031 to 20 January
2031 (inclusive of the first date
and exclusive of the last); or
(ii) 10 (ten) days prior to (but
excluding) any Payment Date
Last Day to Register (i) 9 March, 9 June, 9 September
and 9 December in each year,
or if such day is not a Business
Day, the Business Day before
each Books Closed Period, but
there will not be a Last Day to
Register on 9 December 2030;
and
(ii) in respect of the Scheduled
Maturity Date, 9 January 2031
or if any such day is not a
Business Day, the Business
Day before each Books Closed
Period, or
(iii) the last Business Day
immediately preceding the
commencement of the Books
Closed Period
Interest Payment Dates 20 June, 20 September, 20 December
and 20 March of each year until the
Applicable Redemption Date provided
that 20 December 2030 will not be an
Interest Payment Date and the
Scheduled Maturity Date will be the
last Interest Payment 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 December 2025
Business Day Convention Modified Following Business Day
JSE Stock Code IVC362
ISIN ZAG000220716
Aggregate Nominal Amount of Notes Outstanding ZAR17,675,495,226 (seventeen billion
under the Programme after this issuance six hundred seventy-five million four
hundred ninety-five thousand two
hundred and twenty-six)
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;
(d) the accrual of interest in the
event that a Credit Event
occurs in respect of one or
more Reference Entities;
(e) the provisions related to the
settlement method applicable
in the event of a Credit Event
occurring in respect of one or
more Reference Entities;
(f) 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: 3 November 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 03-11-2025 01:45:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
