BNP Paribas Issuance B.V. has made a significant move in the South African financial market by securing a listing for its Credit and Index Securities on the Johannesburg Stock Exchange (JSE). The listing, approved by the JSE Limited, is part of BNP Paribas’ broader Note, Warrant, and Certificate Programme initiated on 31 May 2023, which has seen steady growth since its inception. The successful listing marks an exciting development in the region’s investment landscape, unlocking new opportunities for local and international investors.
The two sets of securities listed on the JSE are the ZA302 Credit Securities and the ZA293 Index Securities. Both offerings are backed by BNP Paribas’ robust financial standing and designed to cater to diverse investor preferences and risk appetites.
Table 1: Overview of Listed Securities
| Security Code | ISIN Code | Nominal Issued (ZAR) | Issue Price (ZAR) | Type of Securities | Underlying | Settlement Date | Declaration Date | Last Day to Trade | Suspension Date | Ex-Date | Record Date | Maturity Date |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ZA302 | ZAE000324794 | 80,000,000 | 1,000 | Credit Securities | Credit Linked Certificates with principal and interest | 21 July 2023 | 12 June 2028 | 27 June 2028 | 28 June 2028 | 28 June 2028 | 30 June 2028 | 04 July 2028 |
| ZA293 | ZAE000323507 | 100,000,000 | 1,000 | Index Securities | BNP Paribas Multi Asset Diversified 5 Index | 21 July 2023 | 03 July 2029 | 17 July 2029 | 18 July 2029 | 18 July 2029 | 20 July 2029 | 23 July 2029 |
The ZA302 Credit Securities, with a nominal value of ZAR 80,000,000, are characterized by their Credit Linked Certificates with principal and interest at risk on 13.33% to 26.67% of the ITRAXX EUROPE CROSSOVER SERIES 39 VERSION 1. Investors purchasing these securities will have exposure to a diverse set of credit risks in the European market. The Credit Securities carry a maturity date of 4 July 2028, providing investors with a defined investment horizon.
On the other hand, the ZA293 Index Securities, issued at a nominal value of ZAR 100,000,000, are based on the BNP Paribas Multi Asset Diversified 5 Index. This offering allows investors to participate in a portfolio of diversified assets, enhancing risk management and potential returns. The Index Securities are set to mature on 23 July 2029, presenting a longer-term investment opportunity.
BNP Paribas Arbitrage S.N.C. will act as the placement agent for both sets of securities, ensuring a smooth and efficient listing process. Settlement for these securities will take place electronically as per JSE Rules, streamlining the investment process for market participants.
