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New Financial Instrument Listing Announcement – IVC331
2025/03/13 14:45:00Download PDF Stock report
New Financial Instrument Listing Announcement – IVC331
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 – IVC331
Application has been made to the JSE Limited ('JSE') for the listing of R250,000,000 (two hundred
and fifty million Rand) senior unsecured floating rate credit linked Notes (stock code IVC331), under
Investec Bank Limited's Credit Linked Note Programme dated 17 March 2021 ('Programme
Memorandum').
The IVC331 Notes will be issued to Noteholders on the date of listing being with effect from
14 March 2025 commencement of trade.
Salient features of the IVC331 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R1,000,000 per Note on the Issue Date
Instrument Senior unsecured credit linked Notes
Issue Date 14 March 2025
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a margin of:
1,69% (one point six nine 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)
Reference 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 and any
spread published by a governmental
authority or industry body and notified
to the Noteholders in accordance with
Condition 34 (Notices)
Scheduled Maturity Date 28 February 2035
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Final Redemption Amount per Note The outstanding Principal Amount per
Note (plus accrued unpaid interest, if
any, to, but excluding, the Scheduled
Maturity Date)
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
(i) The Register will be closed
from 18 February to
28 February, 21 May to 31 May,
21 August to 31 August and
20 November to 30 November
in each year (including the first
day but excluding the last day of
each period), until the
applicable Redemption Date; or
(ii) From the date that is 10 (ten)
days prior to any Payment Day
until (but excluding) the
Payment Date
Last Day to Register 17 February, 20 May, 20 August and
19 November in each year, or if such
day is not a Business Day, the Business
Day before each Books Closed Period,
or the last Business Day immediately
preceding the commencement of the
Books Closed Period
Interest Payment Dates 28 February, 31 May, 31 August and
30 November in each year and the
applicable Redemption Date and with
the first Interest Payment Date being
30 April 2025 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 Following Business Day
JSE Stock Code IVC331
ISIN ZAG000213513
Aggregate Nominal ZAR13,955,495,226 (thirteen billion
Amount of Notes Outstanding nine hundred and fifty five million four
under the Programme after this hundred and ninety five thousand two
issuance hundred and twenty six Rand)
An additional early redemption event,
the Reference Obligation Early
Redemption Event was included. The
calculation of the Early Redemption
Amount when a Reference Obligation
Early Redemption Event, Tax Event,
illegality or an Event of Default differs
from the calculation of an early
redemption amount stipulated in the
Programme Memorandum. The Credit
Event Redemption Amount per Note
(the fall back settlement) also differs
from the formula stipulated in the
Programme Memorandum.
The Pricing Supplement contains any additional terms
and conditions or changes to the terms and conditions
as contained in the Programme Memorandum.
Investors should study the Applicable Pricing
Supplement for full details of the terms and conditions
applicable to these Notes.
Date: 13 March 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 13-03-2025 02:45:00
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