Wrap Text
NBKP - Correction Announcement: Noteholder Early Redemption Elections: NELN09
NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE Alpha Code: NBKP
(Nedbank or the Issuer)
CORRECTION ANNOUNCEMENT: NOTEHOLDER EARLY REDEMPTION ELECTIONS: NELN09
Noteholders are referred to the announcement titled "Noteholder Early Redemption Elections: NELN09"
released on SENS on 21 April 2026 and the applicable pricing supplement for NELN09 (NELN09 APS)
issued on 5 July 2023 under the Nedbank ZAR120,000,000,000 Structured Note Programme. This
announcement replaces the aforementioned announcement.
Any capitalised terms not defined in this announcement shall have the meanings ascribed to them in the
NELN09 APS.
NELN09 early redemption election
In terms of the terms and conditions of the NELN09 APS, noteholders are advised of the upcoming annual
Noteholder Early Redemption Election as contained in paragraphs D.5. and D.6. of the NELN09 APS and
are reminded that the duly completed Noteholder Early Redemption Notice is required to be submitted to
Nedbank between 3 May 2026 and 3 June 2026, being no less than 30 days nor more than 60 days before
the Early Redemption Date (3 July 2026).
Noteholders are advised that should they have missed the aforementioned deadline, such noteholders may
engage with Nedbank.
Noteholders who elect the Noteholder Early Redemption Election, in whole or in part
A Noteholder may, at its election, require the Issuer to redeem all or any of such Notes held by the relevant
Noteholder, in whole or in part, at the Cash Settlement Amount.
2026
Earliest date for the Noteholder Early Redemption Election Sunday, 3 May
Latest date for the Noteholder Early Redemption Election by 17:00 Wednesday, 3 June
Expiration Date Friday, 3 July
Finalisation announcement before 11:00 Monday, 6 July
Last day to trade Monday, 6 July
Suspension date Tuesday, 7 July
Record date Thursday, 9 July
Cash Settlement Amount Payment Date (at least 10 (ten) Business Days Friday, 10 July
after the Expiration Date)
Termination date Monday, 13 July
Noteholders who DO NOT elect the Noteholder Early Redemption Election
Should Noteholders not make the Noteholder Early Redemption Election, such Noteholders will remain
invested in NELN09 and updated economics will be applied to NELN09. The indicative updated economics
are expected to be as follows:
Expiration Date: 5 July 2027
Cash Settlement Amount Payment Date: At least 10 (ten) Business Days after the Expiration Date
(anticipated to be 26 July 2027)
The Cash Settlement Amount will be updated with the Growth Factor which caters for the re-invested
proceeds of the preceding 1-year term as follows:
CSA = GF x GF2 x GF3 x SD × [CP+(max((min(FIL, Cap) - IIL)/IIL, 0) × PF)]
Where:
"CSA" means the Cash Settlement Amount;
"GF" means the Growth Factor of 1.09494473;
"GF2" means the Growth Factor 2 of 1.1150;
"GF3" means the Growth Factor 3, which is to be confirmed;
"CP" means capital protection amount being 1.00;
"SD" means the Specified Denomination;
"×" means multiply by;
"FIL" means the Final Index Level , which is to be confirmed;
"IIL" means the Initial Index Level, which is to be confirmed;
"Cap" means 105% of IIL; and
"PF" means the participation factor, which is to be confirmed.
2027
Expiration Date Friday, 5 July
Finalisation date Wednesday, 13 July
Last day to trade Tuesday, 20 July
Suspension date Wednesday, 21 July
Record date Friday, 23 July
Cash Settlement Amount Payment Date (at least 10 (ten) Business Days Monday, 26 July
after the Expiration Date)
Termination date Tuesday, 27 July
A further announcement will be released as soon as the updated economics of NELN09 have been
calculated on the current Expiration Date of Friday, 3 July 2026.
29 April 2026
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 29-04-2026 03:30:00
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