ABSA Bank Launches NEWWAVE USD ETNs – Currency Hedge Soars!

  • ABSA Bank Limited lists an additional 1,000,000 NEWWAVE USD Exchange Traded Notes (ETNs) on the JSE to meet growing investor demand.
  • The NEWWAVE USD ETNs offer exposure to the US Dollar against the South African Rand, providing a hedge against currency fluctuations.
  • With a total of 38,335,177 notes in issue, the ETNs attract significant attention from both institutional and retail investors seeking diversified investment options.
Absa Bank

ABSA Bank Limited has taken a strategic step in response to growing investor demand by listing an additional 1,000,000 NEWWAVE USD Exchange Traded Notes (USD Notes or ETNs) on the Johannesburg Stock Exchange (JSE) today. This move further strengthens their commitment to offering diversified investment opportunities to the market.

The decision to issue and list the additional 1,000,000 NEWUSD Notes comes after a surge in subscriptions for the existing NEWWAVE USD Exchange Traded Notes, reflecting the market’s increasing interest in currency-linked investment options.

Table 1: Summary of NEWWAVE USD Exchange Traded Notes

Share CodeISINTotal Notes in Issue

The 1,000,000 NEWUSD Notes were officially introduced on the JSE with an issue price of approximately ZAR18.45 per note, offering investors a cost-effective and accessible means to gain exposure to the performance of the US Dollar against the South African Rand.

With the latest addition, the total number of NEWUSD Notes in circulation has reached an impressive 38,335,177, further solidifying its position as an attractive investment instrument.

The NEWWAVE USD Exchange Traded Notes offer a range of benefits, particularly in an environment where currency volatility can impact investment portfolios. By providing exposure to the US Dollar, investors can use these ETNs as a hedging tool to mitigate potential risks arising from fluctuating exchange rates.

Table 2: Key Features of NEWWAVE USD Exchange Traded Notes

InstrumentExposureIssue Price (ZAR)Total Notes in Issue
NEWWAVE USD ETNsUS Dollar to ZAR18.4538,335,177

Investors, both institutional and retail, have shown increasing interest in the NEWWAVE USD ETNs due to their potential to diversify and strengthen investment portfolios, especially during times of economic uncertainty.

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