Bond AbsaBanque 0% ( ZAG000176124 ) in ZAR

Issuer	AbsaBanque
Market price	100 % ⇌
Country	South Africa
ISIN code	ZAG000176124 ( in ZAR )
Interest rate	0%
Maturity	21/12/2026
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Minimal amount	1 000 000 ZAR
Total amount	250 000 000 ZAR
Detailed description	Absa Bank is a leading African financial services group offering a range of banking, wealth, and insurance solutions across various countries, primarily in Africa. Absa Bank, a prominent financial institution based in South Africa, has issued a zero-coupon bond, identified by ISIN ZAG000176124, which offers investors a unique structure within the South African Rand (ZAR) denominated debt market. This particular bond, with a maturity date set for December 21, 2026, carries a stated interest rate of 0%, indicating it is designed to be acquired at a discount to its face value and repaid at par upon maturity, with investor returns generated through capital appreciation rather than recurring interest payments. The total size of this bond issue stands at 250,000,000 ZAR, with a minimum investment threshold set at 1,000,000 ZAR, making it primarily suitable for institutional investors or high-net-worth individuals. Currently trading at 100% of its nominal value on the market, this security provides direct exposure to the credit risk of Absa Bank, one of South Africa's largest diversified financial services groups, offering comprehensive banking, insurance, and wealth management products and services across the continent. The bond's payment frequency, designated as '1', signifies a single lump-sum repayment of the principal at maturity, consistent with its zero-coupon nature and the absence of periodic coupon payments.