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Issue of INLV23 subordinated unsecured callable floating rate tier 3 notes
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 13800CU7SM6O4UWOZ70
ISSUE OF INLV23 SUBORDINATED UNSECURED CALLABLE FLOATING RATE
TIER 3 NOTES ("INLV23 NOTES")
Application has been made to the JSE Limited ("JSE") for the listing of ZAR1,616,000,000
(one billion six hundred and sixteen million Rand) subordinated unsecured callable floating
rate Additional Tier 1 Notes (stock code INLV23), under Investec Limited's Domestic Medium
Term Note and Preference Share Programme dated 16 April 2026.
The INLV23 Notes will be issued to Noteholders on the date of listing being
29 July 2026 with effect from commencement of trade.
Salient features of the INLV23 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 29 July 2026
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R1,616,000,000
Interest Rate The Reference Rate plus the Margin
Reference Rate Compounded Daily ZARONIA
Margin 2.18%
Interest Rate Determination Date the 5th (fifth) Johannesburg
Business Day prior to each Interest
Payment Date
Maturity Date Subject to the section titled
"Provisions regarding
Redemption/Maturity" in the
Applicable Pricing Supplement, this
Tranche of Additional Tier 1 Notes
shall only be redeemed, at the
aggregate outstanding Nominal
Amount of this Tranche plus
accrued 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
Conditions 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 Yes, subject to the applicable
Regulatory Capital Requirements
and Condition 10.8 (Conditions to
redemption, purchase, cancellation,
modification, substitution or
variation of Subordinated Capital
Notes)
Optional Redemption Date(s) 29 July 2033 or on any Interest
Payment Date thereafter, subject to
the applicable Regulatory Capital
Requirements
Early Redemption Amount The outstanding Nominal Amount
per Note plus accrued unpaid
interest (if any)
Interest Commencement Date 29 July 2026
Books Close Day(s) Not applicable
Last Day to Register 28 January, 28 April, 28 July and
28 October in each year or the day
before any payment date and if such
day is not a Business Day, the
Business Day immediately
preceding that applicable payment
date
Interest Payment Dates 29 January, 29 April, 29 July and
29 October in each calendar year
during the period, commencing on
29 July 2026 and ending on the
Maturity Date, or, if such day is not
a 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 (Notes))
Business Day Convention Modified Following Business Day
JSE Stock Code INLV23
ISIN ZAG000227083
Aggregate Nominal Amount of Notes Outstanding ZAR15,877,000,000 excluding this
and aggregate Calculation Amount of Programme Tranche of Notes but including all
Preference Shares as at the Issue Date other Notes and Programme
Preference Shares issued on the
Issue Date.
The Applicable Pricing Supplement has additional Not applicable
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 which can be
viewed or downloaded on the Issuer's website:
www.investec.com.
Date: 28 July 2026
Debt Sponsor:
Investec Bank Limited
bongani.ntuli@investec.co.za
Date: 28-07-2026 03:30:00
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