ABSA Bank: AMB285 Redemption Alert

  • ABSA BANK announces AMB285 financial instrument redemption.
  • Key dates include last trading day, payment date, and termination date.
  • Noteholders should update records for timely payments.
Published by
Lethabo Ntsoane

ABSA BANK LIMITED (Registration number 1986/004794/06) has issued a notice regarding the redemption of its financial instrument, AMB285. Noteholders and investors in South Africa are urged to take note of the important dates and details associated with this redemption process.

Key Details of AMB285 Redemption:

AspectDetails
JSE Short CodeABMBSN285
JSE Alpha CodeAMB285
JSE Long CodeABMBSN285-05September2023
ISINZAE000267530
Initial Issue Size10,532
Payment per unit*R1,057.37256
Last Date to TradeTuesday, 12 September 2023
SuspensionWednesday, 13 September 2023
Record DateFriday, 15 September 2023
Payment Date*Monday, 18 September 2023
Termination DateTuesday, 19 September 2023

*Note: All settlements occur outside of Strate.

AMB285, a financial instrument issued by ABSA BANK LIMITED, is set to undergo redemption. This move signals a significant financial event that will affect noteholders and investors in the South African market.

Important Dates to Remember:

  • Last Date to Trade: Tuesday, 12 September 2023 On this date, trading of AMB285 will cease, and investors will no longer be able to buy or sell this financial instrument on the Johannesburg Stock Exchange (JSE).
  • Suspension: Wednesday, 13 September 2023 Following the last trading day, AMB285 will be suspended from trading on the JSE.
  • Record Date: Friday, 15 September 2023 This date is crucial for noteholders, as it determines who is eligible to receive payments related to the redemption.
  • Payment Date: Monday, 18 September 2023 Noteholders who are eligible will receive their payments on this date. It’s essential for noteholders to ensure their records are up to date with the relevant authorities to receive their payments promptly.
  • Termination Date: Tuesday, 19 September 2023 The AMB285 financial instrument will officially terminate on this date, marking the completion of the redemption process.

ABSA BANK LIMITED has taken measures to provide clear guidance to note holders and investors throughout this process. The Debt Sponsor for this financial instrument, Absa Corporate and Investment Bank, is overseeing the redemption to ensure a smooth and efficient transition.

Investors and note holders are encouraged to review their portfolios, take note of these critical dates, and follow any additional instructions provided by the issuer or the Debt Sponsor.

As South Africa’s financial landscape continues to evolve, ABSA BANK’s redemption of AMB285 is a notable event that reflects the dynamic nature of the country’s financial markets. Stay informed, and make sure to take the necessary steps to navigate this financial transition effectively.

Sponsored

Start trading with a free $30 bonus

Unleash your trading potential with XM—your gateway to the electric world of financial markets! Get a staggering $30 trading bonus right off the bat, with no deposit required. Dive into a sea of opportunities with access to over 1000 instruments on the most cutting-edge XM platforms. Trade with zest, at your own pace, anytime, anywhere. Don't wait, your trading journey begins now! Click here to ignite your trading spirit!

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo