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New Financial Instrument Listing - INLV16
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 13800CU7SM6O4UWOZ70
New Financial Instrument Listing
Announcement
ISSUE OF INLV16 SUBORDINATED UNSECURED CALLABLE FLOATING RATE
ADDITIONAL TIER 1 NOTES ("INLV16 NOTES")
Application has been made to the JSE Limited ("JSE") for the listing of ZAR750,000,000
(seven hundred and fifty million Rand) subordinated unsecured callable floating rate
Additional Tier 1 Notes (stock code INLV16), under Investec Limited's Domestic Medium
Term Note and Preference Share Programme dated 15 November 2017.
The INLV16 Notes will be issued to Noteholders on the date of listing being
14 December 2023 with effect from commencement of trade.
Salient features of the INLV16 Notes are listed below:
Issuer Investec Limited
Instrument subordinated unsecured callable
Additional Tier 1 Notes, subject to
Write Off if a Trigger Event occurs in
relation to the Issuer
Issue Date 14 December 2023
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R750,000,000
Interest Rate 3-month JIBAR plus the Margin
Interest Rate Determination Date means 14 March, 14 June,
14 September and 14 December in
each year as determined in
accordance with the applicable
Business Day Convention (as
specified in the Applicable Pricing
Supplement), provided that the first
Interest Determination Date shall be
on 14 December 2023
Margin 3.01%
Maturity Date Subject to the section titled
"Provisions regarding
Redemption/Maturity" below, this
Tranche of Additional Tier 1 Notes
shall only be redeemed, at the
aggregate outstanding Nominal
Amount of this Tranche plus
accrued unpaid interest (if any), on
a winding-up (other than pursuant to
a Solvent Reconstruction) or
liquidation of the Issuer, subject to
Condition 6.4 (Status of Additional
Tier 1 Notes) (and specifically
Condition 6.4.3 (Subordination))
Issue price per Note 100%
Final Redemption Amount per Note The aggregate outstanding Nominal
Amount (plus accrued interest, if
any, to the Maturity Date)
Redemption at the option of the Issuer Applicable, subject to the applicable
Regulatory Capital Requirements
and Condition 10.1.8 (Conditions to
redemption, purchase, cancellation,
modification, substitution or
variation of Subordinated Capital
Notes). The Optional Redemption
Date is 14 March 2029 and on each
Interest Payment Date thereafter.
Early Redemption Amount The outstanding Nominal Amount
per Note plus accrued unpaid
interest (if any)
Interest Commencement Date 14 December 2023
Books Close Period The Register will be closed from
5 March to 14 March, 5 June to 14
June, 5 September to 14 September
and 5 December to 14 December in
each year (all dates inclusive) until
the Applicable Redemption Date, or
10 days prior to any Payment Day
Last Day to Register Close of business on the Business
Day immediately preceding the first
day of a Books Close Period
Interest Payment Dates 14 March, 14 June, 14 September
and 14 December in each year, with
the first Interest Payment Date
being 14 March 2024
Business Day Convention Following Business Day
JSE Stock Code INLV16
ISIN ZAG000201914
Aggregate Nominal Amount of Notes Outstanding ZAR16,009,674,116
in the Series after this issuance
The Pricing Supplement does not contain 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 December 2023
Debt Sponsor:
Investec Bank Limited
bongani.ntuli@investec.co.za
Date: 13-12-2023 11:15:00
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