ABSA Bank Boosts Investors with Fixed Payments Plan

ABSA Bank Limited has announced a strategic move aimed at providing value and bolstering investor confidence. In accordance with the relevant Applicable Pricing Supplements, the bank will issue fixed interim payments to noteholders, further solidifying its commitment to customer-centric financial solutions.

The announcement comes as ABSA Bank strives to strengthen its foothold in the market while maintaining transparency and adhering to best practices. This move is poised to resonate positively with the bank’s investor community, as it aligns with ABSA’s longstanding reputation for reliability and innovation.

Fixed Interim Payments Details:

The fixed interim payments will be extended to three distinct notes, each carrying its own set of terms and conditions. Noteholders can anticipate the following payments:

Note 1: JSE Short Code ABMBSN502

• JSE Alpha Code: ASN502
• JSE Long Code: ABMBSN502-19SEPTEMBER2025
• ISIN: ZAE000291597
• Notes in Issue: 12,999

Payments for Note 1:

Key Dates:

• Last Date to Trade: Tuesday, 12th September 2023
• Ex Date: Wednesday, 13th September 2023
• Record Date: Friday, 15th September 2023

Note 2: JSE Short Code ABMBSN923

• JSE Alpha Code: ASN923
• JSE Long Code: ABMBSN923-21SEPTEMBER2027
• ISIN: ZAE000314670
• Notes in Issue: 43,662

Payments for Note 2:

Key Dates:

• Last Date to Trade: Tuesday, 12th September 2023
• Ex Date: Wednesday, 13th September 2023
• Record Date: Friday, 15th September 2023

Note 3: JSE Short Code ABMBSN922

• JSE Alpha Code: ASN922
• JSE Long Code: ABMBSN922-21SEPTEMBER2027
• ISIN: ZAE000314613
• Notes in Issue: 153,569

Payments for Note 3:

Key Dates:

• Last Date to Trade: Tuesday, 12th September 2023
• Ex Date: Wednesday, 13th September 2023
• Record Date: Friday, 15th September 2023

Strategic Investor Relations:

ABSA Bank’s move to provide fixed interim payments underscores the bank’s commitment to strengthening its investor relations. This strategic initiative is set to bolster investor confidence and enhance the bank’s reputation as a trustworthy financial partner.

Redemption and Settlement:

In addition to the fixed interim payments, ABSA Bank has confirmed that units for each respective note will be redeemed on their final expiry dates. These dates will be declared at a later stage.

Conclusion:

ABSA Bank’s decision to offer fixed interim payments represents a progressive step towards fostering stronger investor relationships and maintaining transparency in financial dealings. As the payment dates approach, note holders are advised to mark their calendars and stay tuned for further updates from ABSA Bank.