- The Standard Bank of South Africa Limited lists “SSN202” Senior Unsecured Floating Rate Notes on the JSE Limited.
- The authorized programme size is ZAR 120 billion, with a total issuance of ZAR 80.33 billion.
- The notes have a coupon rate of 2.00% plus the Three-month ZAR-JIBAR-SAFEX and will mature on May 30, 2028.
The JSE Limited has recently granted a listing to The Standard Bank of South Africa Limited for its new financial instrument, the “SSN202” Senior Unsecured Floating Rate Notes due on May 30, 2028. These notes are sponsored by The Standard Bank of South Africa Limited under its Structured Note Programme.
The authorized programme size for the SSN202 notes is ZAR 120,000,000,000, with a total issuance, including the current issue, of ZAR 80,332,373,086.61. The specifics of the notes are as follows:
- Issue Date: May 30, 2023
- Nominal Issued: ZAR 20,000,000.00
- Coupon Rate: 2.00% plus the Three-month ZAR-JIBAR-SAFEX as per the Applicable Pricing Supplement
- Coupon Indicator: Floating
- Interest Determination Dates: Each February 28 (or February 29 during a leap year), May 30, August 30, and November 30 of each year, starting from May 30, 2023, until the Maturity Date
- Trade Type: Price
- Issue Price: 100%
- Maturity Date: May 30, 2028
- Interest Commencement Date: Issue Date
- First Interest Payment Date: August 30, 2023
- Interest Payment Dates: Each February 28 (or February 29 during a leap year), May 30, August 30, and November 30 of each year, starting from August 30, 2023, until the Maturity Date
- Business Day Count/Convention: Actual/365(Fixed) and Following Business Day
- Books Close: The Books Closed Period, during which the Register will be closed, will be from February 23 (or February 24 during a leap year), May 25, August 25, and November 25 until the applicable Interest Payment Date
- Last day to register: By 17:00 on February 22 (or February 23 during a leap year), May 24, August 24, and November 24, or if such day is not a Business Day, the Business Day before each Books Closed Period until the Maturity Date
- 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 are advised to refer to the Pricing Supplement for complete details of the specific terms and conditions applicable to this issuance.
The SSN202 notes will be deposited in the Central Depository (“CSD”), and settlement will be conducted electronically in accordance with JSE Rules. The issuance date is set for May 29, 2023.