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FirstRand Bank’s Bond FRS218: Interest Payment of ZAR 4.2M Due June 8th

Last updated June 5, 2023
Published June 5, 2023
By Lethabo Ntsoane

FirstRand Bank Limited announces interest payment for Bond FRS218.
Interest payment due on June 8, 2023, with an annualized interest rate of 4.500%.
Bondholders can expect an interest amount due of ZAR 4,216,480.08.

FirstRand Bank Limited (FRB) recently released an important announcement regarding an upcoming interest payment for bondholders. The payment, scheduled for June 8, 2023, pertains to bond code FRS218 with the International Securities Identification Number (ISIN) ZAG000168527.

With an annualized interest rate of 4.500%, the interest rate for the specified period is 2.250%. FirstRand Bank has utilized the following formula for interest calculation: ANA * FC * DC * (FXFID/FXFSD), with all definitions in accordance with the pricing supplement. The value of FXFID used in this calculation is 19.730417. As a result, bondholders can expect an interest amount due of ZAR 4,216,480.08.

In accordance with the prescribed date convention, the payment will be made on June 8, 2023, following the business day convention. FirstRand Bank has provided bondholders with a dedicated URL for further information, which can be accessed at https://www.firstrand.co.za/investors/debt-investor-centre/jse-listedinstruments/.

Rand Merchant Bank, a division of FirstRand Bank Limited, has been designated as the debt sponsor for this particular transaction. As a prominent financial institution, FirstRand Bank aims to provide comprehensive banking, investment, and insurance services to its clients. The organization has a strong presence within South Africa and has been steadily expanding its international reach.

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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

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