FIRSTRAND BANK LIMITED - MSETNC MSETNQ - Receipt of Dividend Payment and update to the Net Asset Value

MSETNC MSETNQ - Receipt of Dividend Payment and update to the Net Asset Value

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRTN
LEI: ZAYQDKTCATIXF9OQY690
Alpha Code: MSETNC         ISIN: ZAE000291142
Alpha Code: MSETNQ         ISIN: ZAE000291308
(FRB)


RECEIPT OF DIVIDEND PAYMENT AND UPDATE TO THE NET ASSET VALUE

Holders of the MSETNC and MSETNQ exchange-traded notes (ETNs) are advised that on Thursday,
10 December 2020, Microsoft Corp paid a dividend of $0.56 per share. As per published guidance, this
dividend was synthetically reinvested, net of all taxes, charges and fees, for the ETNs at the US closing
price on Friday, 11 December 2020. The result of the synthetic dividend reinvestment is to increase the
fractional number of shares each ETN references and no distribution or payment will be made.

Dividend amount          $0.56 / share
Effective tax rate       50%
Reinvestment amount      $0.28 / share
Reinvestment price       $213.26 / share

The daily published net asset value (NAV) has already been updated to include the effect of the dividend
being paid, which can be viewed at:
https://www.rmb.co.za/page/inward-listed-etns

NAV formulae for the instruments can be found at:
https://www.firstrand.co.za/investors/debt-investor-centre/prospectuses-and-programme-memoranda/
https://www.firstrand.co.za/investors/debt-investor-centre/jse-listed-instruments/



14 December 2020

Debt Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 14-12-2020 03:45:00
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.