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ABSA BANK LIMITED - New Financial Instrument Listing - ASN542

Release Date: 25/11/2020 13:35
Code(s): ASN542     PDF:  
Wrap Text
New Financial Instrument Listing - ASN542

(Registration number 1986/004794/06)
Bond Code: ASN542
ISIN No: ZAG000172974


The JSE Limited has granted financial instruments listing to ABSA BANK LIMITED “ASN542 NOTE” under its
ZAR40,000,000,000 Master Structured Note Programme Memorandum. Copies of the Master Structured Note
Programme are available on the issuer’s website at

Full Note details are as follows:

Instrument Type:                                       Floating Rate Note
Bond Code                                              ASN542
Nominal Issued                                         R200,000,000.00
Total Notes in issue                                   R 29,675,985,017.96 (Incl. ASN542)
Issue Price                                            100%
Coupon Rate                                            3 Month JIBAR plus 328bps
Coupon Rate Indicator                                  Floating
Trade Type                                             Price
Final Maturity Date                                    28 November 2022
Last Day to Register                                   By 17:00 on 17 February, 17 May, 17 August, 17 November
Books Close Date(s)                                    18 February, 18 May, 18 August, 18 November
Interest Payment Date(s)                               28 February, 28 May, 28 August, 28 November
Interest Determination Date(s)                         The first Interest Determination Date will be the Issue Date i.e. the
                                                       27th November 2020, thereafter each of 28 February, 28 May,
                                                       28 August, 28 November
Issue Date                                             27 November 2020
Date Convention                                        Following
Interest Commencement Date                             27 November 2020
First Interest Payment Date                            28 February 2021
ISIN No.                                               ZAG000172974
Additional Information                                 Unsubordinated Unsecured

Other provisions

Condition 9 titled “Taxation” in the section II-A of the Master Programme Memorandum titled “Terms and Conditions of
the Notes” is amended in relation to this Tranche of Notes by (i) the replacement of the words after the dash in Condition
9.3 with the words “provided that this exception shall only apply to that portion of the withholding or deduction which could
lawfully have been so reduced”, (ii) the deletion of Condition 9.8 and (iii) the insertion of the following additional
paragraphs immediately after Condition 9.7:

9.8     where such withholding or deduction is imposed on a payment to an individual and is required to be made
        pursuant to European Council Directive 2003/48/EC (or any other directive implementing the conclusions of the
        236th Economic and Financial Affairs Council (ECOFIN) meeting of 26 and 27 December 2000) on the taxation
        of savings income or any law implementing or complying with, or introduced in order to conform to, such
        directive; or
9.9     held by or on behalf of a Noteholder in circumstances where such party could lawfully reduce the amount of
        taxation otherwise levied or leviable upon the principal or interest by virtue of any tax treaty or non-South African
        tax laws applicable to such Noteholder, whether by way of a tax credit, rebate deduction or reduction equal to all
        or part of the amount withheld or otherwise, and whether or not it is actually claimed and/or granted and/or
        allowed; or

9.10    in respect of any present or future taxes, duties, assessments or governmental charges of whatever nature which
        are payable otherwise than by withholding from payment of principal or interest, if any, with respect to such Note;

9.11    where any combination of the scenarios or occurrences contemplated in Conditions 9.1 to 9.10 above occurs, the
        Issuer is not liable for or otherwise obliged to pay any taxes that June arise as a result of the ownership, transfer
        or redemption of any Note.

If the Issuer becomes subject generally at any time to any taxing jurisdiction, authority or agency other than or in addition
to South Africa, references in Conditions 8.2 (Redemption for Tax Reasons or due to a Change in Law) and 9 (Taxation)
to South Africa shall be read and construed as references to South Africa and/or to such other jurisdiction, authority or

25 November 2020

Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 25-11-2020 01:35:00
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