BNP Paribas has revealed plans to redeem ZAR35 million worth of Index-Linked Redemption Notes. The announcement affects holders of the BNP Paribas Arbitrage Issuance B.V. – ZA140 Index-Linked Redemption Notes, who have been informed that the final redemption amount will be disbursed on July 26, 2023. The exact rate at which the redemption will occur is slated to be announced on July 19, 2023.
This redemption event follows a predetermined timeline, with specific dates that investors need to be aware of. The last date to trade the redemption notes is set for July 18, 2023. Subsequently, on July 19, 2023, trading of the notes will be suspended. The record date for determining eligible holders is scheduled for July 21, 2023. Finally, the payment and redemption date has been confirmed as July 26, 2023, followed by the termination of the notes on July 27, 2023.
The Standard Bank of South Africa Limited has been appointed as the debt sponsor for this redemption process. The bank will assist in ensuring the smooth execution of the redemption and facilitate the necessary transactions.
Index-linked redemption notes are financial instruments whose value is directly tied to the performance of an underlying index or benchmark. Investors who hold these notes have the opportunity to capitalize on the movements of the referenced index, thereby potentially increasing their returns.