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New Financial Instrument Listing Announcement – IVC371
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 – IVC371
Application has been made to the JSE Limited ("JSE") for the listing of R50,000,000 (fifty million
Rand) senior unsecured floating rate credit index linked Notes (stock code IVC371), under Investec
Bank Limited's Credit Linked Note Programme dated 17 March 2021 ("Programme
Memorandum").
The IVC371 Notes will be issued to Noteholders on the date of listing being with effect from
20 March 2026 at commencement of trade.
Salient features of the IVC371 Notes are listed below:
Issuer Investec Bank Limited
Principal Amount R1,000,000 per Note on the Issue Date
Instrument Senior unsecured credit index linked
Notes – (iTraxx Xover – Series 44)
Issue Date 20 March 2026
Nominal Amount per Note R1,000,000
Interest Rate The Reference Rate plus a Margin of
3.14% (three point fourteen percent)
for the period beginning on and
including the Issue Date to but
excluding the applicable Redemption
Date (adjusted in accordance with the
applicable Business Day Convention)
Scheduled Maturity Date 20 January 2031
Optional Redemption Date (Call) N/A
Issue price per Note 100%
Reference Rate Compounded Daily ZARONIA
(Lookback without Observation Shift),
as defined in, and determined in
accordance with the provisions of
Schedule 1 (Screen Rate
Determination for Floating Rate Notes
Referencing Compounded Daily
ZARONIA (Lookback without
Observation Shift) of the Applicable
Pricing Supplement
Interest Rate Determination Date the 5th (fifth) Johannesburg Business
Day (as defined in Schedule 1 (Screen
Rate Determination for Floating Rate
Notes Referencing Compounded Daily
ZARONIA (Lookback without
Observation Shift) prior to (i) the Issue
Date; and (ii) each Interest Payment
Date
Early Redemption Amount per Note "Early Redemption Amount"
means the greater of (i) X and (ii) zero
Where
X = (a) – (b)
(a) is the applicable Calculation
Amount plus unpaid interest accrued
(if any) up to but excluding the
Applicable Redemption Date; and
(b) is the Unwind Costs in relation to
the Applicable Redemption Date;
Final Redemption Amount per Note The greater of (x) the applicable
Calculation Amount Percentage as at
that date multiplied by the Principal
Amount plus unpaid interest accrued
(if any) up to but excluding the
Scheduled Maturity Date and (y) zero
Interest Commencement Date Issue Date
Books Close Dates The Register will be closed on:
(i) 19 March, 19 June
19 September and 19
December each year and in
respect of the Scheduled
Maturity date, 19 January 2031
but excluding 19 December
2030; or
(ii) 1 day prior to, but excluding,
any Payment Date
Last Day to Register (i) 18 March, 18 June,
18 September and 18
December in each year, or if
such day is not a Business
Day, the Business Day before
each Books Closed Period, but
there will not be a Last Day to
Register on 18 December
2030; and
(ii) in respect of the Scheduled
Maturity Date, 18 January
2031 or if any such day is not a
Business Day, the Business
Day before each Books Closed
Period, or
(iii) the last Business Day
immediately preceding the
commencement of the Books
Closed Period
Interest Payment Dates 20 June, 20 September, 20 December
and 20 March of each year until the
Applicable Redemption Date provided
that 20 December 2030 will not be an
Interest Payment Date and the
Scheduled Maturity Date will be the
last Interest Payment 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), with
the first Interest Payment Date being
20 June 2026
Business Day Convention Modified Following Business Day
JSE Stock Code IVC371
ISIN ZAG000223884
Aggregate Nominal Amount of Notes Outstanding ZAR18,105,495,226 (eighteen billion
under the Programme after this issuance one hundred and five million four
hundred and ninety five thousand two
hundred and twenty six Rand)
The Pricing Supplement contains any additional The following terms in the Applicable
terms and conditions or changes to the terms and Pricing Supplement differ from the
conditions as contained in the Programme terms in the Programme
Memorandum. Memorandum:
(1) the calculation of:
(a) the Early Redemption Amount
when a Tax Event, illegality,
an Event of Default or a
Hedging Disruption occurs;
(b) the Calculation Amount for
purposes of calculating the
interest payable on the Notes;
(c) the Cash Settlement Amount
per Note in the event of a
Credit Event occurring in
respect of one or more
Reference Entities;
(d) the accrual of interest in the
event that a Credit Event
occurs in respect of one or
more Reference Entities;
(e) the provisions related to the
settlement method applicable
in the event of a Credit Event
occurring in respect of one or
more Reference Entities;
(f) the insertion of a new
definition for Attachment
Point, Detachment Point,
Unwind Costs and Relevant
CDS.
Investors should study the Applicable Pricing Supplement for full details of the terms and
conditions applicable to these Notes.
Date: 19 March 2026
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 19-03-2026 12:10:00
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