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New Financial Instrument Listing Announcement – IVC321
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 – IVC321
Application has been made to the JSE Limited ("JSE") for the listing of R325,000,000 (three hundred
and twenty five million Rand) senior unsecured floating rate credit linked Notes (stock code IVC321),
under Investec Bank Limited's Credit Linked Note Programme dated 17 March 2021.
The IVC321 Notes will be issued to Noteholders on the date of listing being with effect from
29 January 2025 commencement of trade.
Salient features of the IVC321 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 29 January 2025
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a margin of:
1.20% (one point two zero percent) for
the period beginning on and including
the Issue Date to but excluding the
Optional Redemption Date (Call)
(adjusted in accordance with the
applicable Business Day Convention);
and
1.35% (one point three five percent) for
the period beginning on and including
the Optional Redemption Date (Call) to
but excluding the Scheduled Maturity
Date (adjusted in accordance with the
applicable Business Day Convention)
Reference Rate 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 29 January 2027
Optional Redemption Date (Call) 29 January 2026 and every Interest
Payment Date thereafter, each such date
as adjusted in accordance with the
applicable Business Day Convention
Issue price per Note 100%
Final Redemption Amount per Note The outstanding Principal Amount per
Note (plus accrued unpaid interest, if
any, to the Scheduled Maturity Date)
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from
19 January to 29 January, 19 April to
29 April, 19 July to 29 July and
19 October to 29 October (including the
first day but excluding the last day of
each period) in each year until the
Applicable Redemption Date, or 10
(ten) days prior but excluding any
Payment Day
Last Day to Register 18 January, 18 April, 18 July and
18 October 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 means 29 January, 29 April, 29 July and
29 October of each calendar year or, if
such day is not a Business Day, the
Business Day on which interest will be
paid, will be as determined in
accordance with the applicable
Business Day Convention (as specified
in the Applicable Pricing Supplement),
with the first Interest Payment Date
being 29 April 2025
Business Day Convention Following Business Day
JSE Stock Code IVC321
ISIN ZAG000212101
Aggregate Nominal Amount of Notes Outstanding ZAR11,434,947,386 (eleven billion
under the Programme after this issuance four hundred and thirty four million
nine hundred and forty seven thousand
three hundred and eighty six Rand).
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: 28 January 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 28-01-2025 10:55:00
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