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New financial instrument listing - INLV17
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 213800CU7SM6O4UWOZ70
ISSUE OF INLV17 SUBORDINATED UNSECURED CALLABLE FLOATING RATE ADDITIONAL TIER 1 NOTES ("INLV17 NOTES")
Application has been made to the JSE Limited ("JSE") for the listing of ZAR600,000,000
(six hundred million Rand) subordinated unsecured callable floating rate
Additional Tier 1 Notes (stock code INLV17), under Investec Limited's Domestic Medium
Term Note and Preference Share Programme dated 15 November 2017.
The INLV17 Notes will be issued to Noteholders on the date of listing being
30 September 2024 with effect from commencement of trade.
Salient features of the INLV17 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 30 September 2024
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R600,000,000
Interest Rate 3-month JIBAR plus the Margin
Interest Rate Determination Date means 30 March, 30 June,
30 September and 30 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 30 September 2024
Margin 2.88%
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 30 December 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 30 September 2024
Books Close Period The Register will be closed from
20 March to 30 March, 20 June to
30 June, 20 September to
30 September and 20 December
to 30 December in each year
(inclusive of the first date and
exclusive of the last) until the
Applicable Redemption Date, or
10 days prior to (but excluding)
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 30 March, 30 June, 30 September
and 30 December in each year,
with the first Interest Payment
Date being 30 December 2024. If
any such days is not a Business
Day, the Business Day on which
interest will be paid, as
determined in accordance with the
applicable Business Day
Convention
Business Day Convention Following Business Day
JSE Stock Code INLV17
ISIN ZAG000209008
Aggregate Nominal Amount of Notes Outstanding R10,336,000,000
and aggregate Calculation Amount of Programme
Preference Shares as at the Issue Date (after this
issuance)
The Applicable Pricing Supplement does Provisions dealing with the
additional terms and conditions or changes to the cessation of JIBAR have been
terms and conditions as contained in the included in relation to the
Programme Memorandum. calculation of the Reference Rate.
Investors should study the Applicable Pricing Supplement for full details of the terms and
conditions applicable to these Notes.
Date: 27 September 2024
Debt Sponsor:
Investec Bank Limited
bongani.ntuli@investec.co.za
Date: 27-09-2024 12:40:00
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