- Investec Bank Limited’s Structured Product Notes (IBLIIX) are set to expire on 12 June 2023, prompting a reminder to holders.
- The notes, linked to an index basket of shares including Naspers Limited (JSE: NPN) and Tencent Holdings Limited (Hong Kong: 700HK), were issued at ZAR 1,000 and have a cover ratio of 1:1.
- After the expiry, the final Basket Level will be confirmed, determining the Cash Settlement Amount payable to holders on the Cash Settlement Payment Date.
Investec Bank Limited, a leading financial institution, has issued a reminder to holders of its Structured Product Notes (Notes) with the JSE code IBLIIX that the notes are set to expire on 12 June 2023. These notes, which have been highly sought after by investors, provide exposure to a carefully selected index basket of shares, featuring Naspers Limited (JSE: NPN) and Tencent Holdings Limited (Hong Kong: 700HK).
The Investec Structured Product Notes were initially issued at an issue price of ZAR 1,000, ensuring accessibility for a wide range of investors. With a cover ratio of 1:1, these notes have gained popularity for their ability to offer a balanced investment opportunity. The European-style notes have an impressive issue size of 3,000,000, further solidifying their significance in the market.
Upon the expiry of the notes on 12 June 2023, Investec Bank Limited will confirm the final Basket Level, which will determine the Cash Settlement Amount payable to the holders on the Cash Settlement Payment Date. This calculation will take into account the performance of the shares in the index basket. Investors eagerly await the announcement of the final Basket Level and Cash Settlement Amount, which is scheduled for Tuesday, 13 June 2023.
As part of the expiration process, trading of the notes will be suspended on Tuesday, 13 June 2023. This suspension allows for the necessary administrative procedures to be carried out smoothly. The record date has been set for Thursday, 15 June 2023, and holders can anticipate receiving their Cash Settlement Payment on Monday, 19 June 2023. The termination of the notes will take place on Tuesday, 20 June 2023, marking the official conclusion of this investment opportunity.
Investec Bank Limited has provided contact details for further information regarding the Structured Product Notes. Investors and interested parties can reach out to Investec Financial Products by phone at +27 11 286 9663 or via email at FPRetail@investec.co.za. The bank encourages individuals to seek clarification and address any queries they may have regarding the notes.
For those seeking additional documentation, copies of the offering circular can be obtained from Investec Bank Limited located at 100 Grayston Drive, Sandown, Sandton, 2196. Moreover, the warrant issue documentation is available for reference on the internet at www.investecwarrants.com.