- The Standard Bank of South Africa successfully lists “SSN201” financial instrument on JSE.
- SSN201 Senior Unsecured Credit Linked Notes to mature on 23 August 2023.
- The Standard Bank of South Africa expands offerings with an authorized program size of ZAR 120,000,000,000 and total notes issued of ZAR 81,333,681,081.61.
The Standard Bank of South Africa Limited has successfully obtained a listing for its latest financial instrument, “SSN201,” on the esteemed Johannesburg Stock Exchange (JSE). This new listing, granted by The JSE Limited, demonstrates The Standard Bank of South Africa’s continued commitment to innovation and expanding its presence in the financial market. The SSN201 Senior Unsecured Credit Linked Notes, which are part of the bank’s Structured Note Programme, are set to mature on 23 August 2023.
Under the authorised programme with a substantial size of ZAR 120,000,000,000, a total of ZAR 81,333,681,081.61 notes, including the current issue, have been issued. The introduction of SSN201 marks an exciting milestone in The Standard Bank of South Africa’s ongoing efforts to diversify its offerings and meet the evolving needs of investors.
The essential details regarding the SSN201 notes are as follows:
- Issue Date: 23 May 2023
- Nominal Issued: ZAR 200,000,000
- Coupon Rate: 1.12% plus Three-month ZARJIBAR-SAFEX, as per the Applicable Pricing Supplement
- Coupon Indicator: Floating
- Interest Determination Dates: Not Applicable
- Trade Type: Price
- Issue Price: 100%
- Maturity Date: 23 August 2023
- Interest Commencement Date: 23 May 2023
- First Interest Payment Date: 23 August 2023
- Interest Payment Dates: 23 August 2023
- Business Day Count/Convention: Actual/365(fixed) and Following Business Day
- Books Close: 18 August 2023, until the applicable Interest Payment Date
- Last day to register: By 17:00 on 17 August 2023, or if such day is not a Business Day, the Business Day before each Books Closed Period
- Placement Agent: The Standard Bank of South Africa Limited
- Debt Security subject to guarantee; security or credit enhancement: Not Applicable
- Additional Terms and Conditions: Investors should refer to the Pricing Supplement for full details of the specific terms and conditions applicable to this specific issuance.
Investors will be able to conveniently access the SSN201 notes through the Central Depository (“CSD”), with settlement taking place electronically in accordance with JSE Rules.