The South African financial landscape is set to witness a groundbreaking evolution with the launch of the SBEN27 Equity Index Linked Notes by The Standard Bank of South Africa Limited. This innovative financial instrument, listed on the JSE Limited, marks a new era in diversified investment options for both individual and institutional investors.
The SBEN27 Equity Index Linked Notes, introduced under The Standard Bank’s established Structured Note Programme, have secured a coveted listing on the JSE Limited. This move is a testament to the bank’s unwavering commitment to pioneering innovative solutions that cater to the diverse needs of its clientele.
One of the most striking features of the SBEN27 Equity Index Linked Notes is the remarkable authorized Programme size of ZAR 120 billion, signifying the bank’s confidence in this novel investment avenue. The bank has already issued ZAR 150 million worth of these notes, indicating a strong initial demand from investors keen to explore this new opportunity.
The comprehensive details of the SBEN27 Notes are provided in the table below:
|Issue Date||August 15, 2023|
|Nominal Issued||ZAR 79,563,500,287.61|
|Redemption Basis||Equity Index Linked|
|Number of Notes||150,000 Notes|
|Declaration Date||May 23, 2028, subject to Preceding Business Day Convention|
|Last Date to Trade||June 6, 2028, subject to Preceding Business Day Convention|
|Suspension Date||June 7, 2028|
|Record Date||June 9, 2028|
|Maturity/Delivery Date||June 20, 2028, subject to adjustments as detailed in the Pricing Supplement|
|De-Listing Date||June 21, 2028|
|Business Day Convention||Preceding Business Day|
|Placement Agent||The Standard Bank of South Africa Limited|
The SBEN27 Notes offer a distinctive investment experience through a novel arrangement. Upon maturity, holders of the SBEN27 Equity Index Linked Notes will receive ETFs (Exchange-Traded Funds) based on the terms specified in the Pricing Supplement. This innovative settlement mechanism demonstrates the bank’s commitment to providing investors with innovative, accessible, and dynamic investment strategies.
Aspiring investors considering the SBEN27 Equity Index Linked Notes are advised to thoroughly review the Pricing Supplement. This document outlines the intricate terms and conditions associated with this issuance. To ensure transparency and security, the notes will be held in the Central Securities Depository (CSD), and settlement will be conducted electronically in accordance with the JSE Rules.
The launch of the SBEN27 Equity Index Linked Notes underlines The Standard Bank’s dedication to expanding the investment landscape and creating tailored solutions for its clients. The bank’s forward-looking approach places it at the forefront of innovation in the financial sector, offering a wide range of investment opportunities that cater to various investor preferences.