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New Financial Instrument Listing Announcement – IVC325
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 – IVC325
Application has been made to the JSE Limited ("JSE") for the listing of R500,000,000 (five hundred
million Rand) senior unsecured floating rate credit linked Notes (stock code IVC325), under Investec
Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC325 Notes will be issued to Noteholders on the date of listing being with effect from
7 March 2025 commencement of trade.
Salient features of the IVC325 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 7 March 2025
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a margin of:
1.71% (one point seven one 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,
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
31 May 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 IVC325
ISIN ZAG000213265
Aggregate Nominal Amount of Notes Outstanding ZAR12,589,495,226 (twelve billion
under the Programme after this issuance five hundred and eighty nine million
four hundred and ninety five thousand
two 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: 6 March 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 06-03-2025 03:46:00
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