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New Financial Instrument Listing Announcement – IVC342
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 – IVC342
Application has been made to the JSE Limited ("JSE") for the listing of R100,000,000 (one hundred
million Rand) senior unsecured iTraxx Crossover Index - Series 43 floating rate credit linked Notes
(stock code IVC342), under Investec Bank Limited's Credit Linked Note Programme dated 17 March
2021.
The IVC342 Notes will be issued to Noteholders on the date of listing being with effect from
17 April 2025 commencement of trade.
Salient features of the IVC342 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 17 April 2025
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus the Margin
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 or any spread published by a
governmental authority or industry
body) determined by the Calculation
Agent and notified to the Noteholders in
accordance with Condition 34 (Notices)
Margin 4.10% (four point one zero percent)
Scheduled Maturity Date 20 July 2030
Issue price per Note 100%
Final Redemption Amount per Note The greater of (i) the Calculation
Amount plus the aggregate of the
Recovery Amounts in respect of all the
Reference Entities in respect of which a
Credit Event has occurred (if any) plus
unpaid interest accrued (if any) up to
but excluding the Scheduled Maturity
Date; and (ii) zero
Interest Commencement Date Issue Date
Books Closed Period The Register will be closed from:
(i) 10 January to 20 January,
10 April to 20 April, 10 July to
20 July and 10 October to
20 October (inclusive of the first
date and exclusive of the last
date in each period) in each
year until the applicable
Redemption Date; or
(ii) 10 (ten) days prior to and
excluding any Payment Day
Last Day to Register 9 January, 9 April, 9 July, and 9 October
in each year, or if such day is not a
Business Day, the Business Day before
each Books Closed Period, or in
respect of item (ii) above, the last
Business Day immediately preceding
the commencement of the Books
Closed Period
Interest Payment Dates 20 July, 20 October, 20 January and
20 April of each year until the applicable
Redemption Date 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 20 July 2025
Business Day Convention Modified Following Business Day
JSE Stock Code IVC342
ISIN ZAG000214974
Aggregate Nominal Amount of Notes Outstanding ZAR15,820,495,226 (fifteen billion eight
under the Programme after this issuance hundred and twenty million four
hundred and ninety five thousand two
hundred and twenty 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 other than additional terms regarding the
calculation of:
Final Redemption Amounts details of which are set out
in paragraph 29 (Calculation Amount) read with
paragraph 39 (Final Redemption Amount) and of the
Applicable Pricing Supplement; and
Interest Amount and the Cash Settlement Amount
details of which are set out in paragraph 29 (Calculation
Amount) read with paragraph 45(k) (Other terms relating
to the particular method of calculating Interest) and
paragraph 54 (Cash Settlement Provisions) of the
Applicable Pricing Supplement.
Investors should study the Applicable Pricing
Supplement for full details of the terms and conditions
applicable to these Notes.
Date: 16 April 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 16-04-2025 05:30:00
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