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Further announcement regarding updated economics for NELN09
NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE alpha code: BINBK
("Nedbank")
FURTHER ANNOUNCEMENT REGARDING UPDATED ECONOMICS FOR NELN09
Noteholders are referred to the announcement released on SENS on 7 May 2024
and are now advised of the final updated economics that will be applied to
NELN09 in respect of noteholders who did not make the Noteholder Early Redemption
Election as set out in the applicable pricing supplement for NELN09 ("NELN09 APS")
and remain invested in NELN09.
Any capitalised terms not defined in this announcement shall have the meanings ascribed
to them in the NELN09 APS.
The details of the final economics of NELN09 are as follows:
Expiration Date: 03 July 2025
Cash Settlement Amount Payment Date: At least 4 (four) Business Days after the Expiration
Date (anticipated to be 09 July 2025)
The Cash Settlement Amount will be amended to incorporate a Growth Factor which caters for
the re-invested proceeds of the initial 1-year term as follows:
CSA = GF x SD x [CP + (max((min(FIL,Cap) – IIL) IIL, 0) x PF)]
Where:
"CSA" means the Cash Settlement Amount;
"GF" means the Growth Factor of 1.09494473;
"CP" means capital protection amount being 1.00;
"SD" means the Specified Denomination;
"×" means multiply by;
"FIL" means the Final Index Level;
"IIL" means the Initial Index Level;
"Cap" means 105% of IIL; and
"PF" means the participation factor of 2.30.
4 July 2024
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 04-07-2024 12:25:00
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