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New Financial Instrument Listing Announcement – IVC334
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 – IVC334
Application has been made to the JSE Limited ("JSE") for the listing of R85,000,000 senior unsecured
floating rate credit linked Notes (stock code IVC334), under Investec Bank Limited's Credit Linked
Note Programme dated 17 March 2021.
The IVC334 Notes will be issued to Noteholders on the date of listing being with effect from
10 April 2025 commencement of trade.
Salient features of the IVC334 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 10 April 2025
Nominal Amount per Note R1,000,000
Interest Rate The Interest Amount for each Interest
Period will be 20.1% (twenty point one
percent) less the Reference Rate for that
period.
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 31 January 2037
Issue price per Note 100%
Final Redemption Amount per Note The outstanding Principal Amount per
Note plus accrued, unpaid interest (if
positive) to, but excluding, the
Scheduled Maturity Date less any
Deferred Amount (or any portion
thereof) to be deducted, provided that
the Final Redemption Amount shall not
be less than zero.
Interest Commencement Date Issue Date
Books Close Period The Register will be closed from 21
January to 31 January, 20 April to 30
April, 21 July to 31 July and 21 October
to 31 October
in each year (including the first day but
excluding the last day of each period),
until the applicable Redemption Date, or
from the date that is 10 (ten) days prior
to (but excluding) the Payment Day
Last Day to Register 20 January, 19 April, 20 July and 20
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 31 January, 30 April, 31 July and 31
October in each year and the applicable
Redemption Date 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 IVC334
ISIN ZAG000214636
Aggregate Nominal Amount of Notes Outstanding ZAR14 900 495 226
under the Programme after this issuance
The Pricing Supplement contains the following In the event that the Interest Amount for
additional terms and conditions or changes to the terms an interest period as calculated by the
Calculation Agent in terms of the above
and conditions as contained in the Programme formula is zero, no interest will be paid
Memorandum. by the Issuer in respect of such interest
period.
Investors should study the Applicable Pricing If the Interest Amount for an interest
Supplement for full details of the terms and conditions period as calculated by the Calculation
applicable to these Notes. Agent in terms of the above formula is
less than zero, then no interest will be
paid by the Issuer on the Interest
Payment Date in respect of such
Interest Period and the negative coupon
amount so calculated ("the Deferred
Amount") will be deferred to the next
Interest Payment Date.
If the Interest Amount payable by the
Issuer on such next Interest Payment
Date is not sufficient to set off against
the total Deferred Amount, or is itself a
Deferred Amount, the principle set out
above will again apply in relation to the
aggregate Deferred Amounts or any
portion thereof, as the case may be and
such aggregate Deferred Amounts will
be again deferred to the following
Interest Payment Date, provided that on
the Maturity Date or the Early
Redemption Date, as the case may be,
any unpaid Deferred Amounts will be
deducted from the Final Redemption
Amount or the Early Redemption
Amount payable by the Issuer, and the
Redemption provided that the
Redemption Amount payable by the
Issuer shall not be less than zero.
The Aggregate of the outstanding
Deferred Amounts shall bear interest
from the Interest Payment Date on
which the Deferred Amount was first
calculated in terms of the above
formula until the Interest Payment Date
on which it is paid in full, at a rate of
ZAR-PRIME-AVERAGE (averaged
daily and compounded monthly) this
amount will be capitalised to the
Deferred Amount and will itself
constitute a further Deferred Amount.
Date: 9 April 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 09-04-2025 03:21:00
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