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ABSA BANK LIMITED - ASN402 - New Listing

Release Date: 14/02/2020 12:36
Code(s): ASN402     PDF:  
Wrap Text
ASN402 - New Listing

(Incorporated with limited liability on 26 November 1986 under registration number 1986/004794/06 in
the Republic of South Africa)


The JSE Limited has granted a financial instrument listing to ABSA BANK LIMITED for the ASN402
note under its Master Structured Note Programme Memorandum. Copies of the Master Structured Note
Programme and Pricing Supplements are available on the issuer’s website at

Full Note details are as follows:
Index                                                   Credit Suisse GEM 10% Risk Control (ER) Index
Listing Date                                            17 February 2020
Issue Size                                              46,801
Issue Price (ZAR)                                       1,000
Maturity Date                                           17 December 2024
JSE Long Code                                           ABMBSN402-17DECEMBER2024
JSE Short Code                                          ABMBSN402
JSE Alpha Code                                          ASN402
ISIN                                                    ZAE000284618
Sector                                                  Specialised Securities
Sub – Sector                                            Investment Products

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 the Republic 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.”

14 February 2020

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

Date: 14-02-2020 12:36:00
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