Obligation Absa Bank 0% ( ZAG000160672 ) en ZAR

Société émettrice Absa Bank
Prix sur le marché refresh price now   100 %  ⇌ 
Pays  Afrique du Sud
Code ISIN  ZAG000160672 ( en ZAR )
Coupon 0%
Echéance 20/06/2024



Prospectus brochure de l'obligation Absa Bank ZAG000160672 en ZAR 0%, échéance 20/06/2024


Montant Minimal 1 000 000 ZAR
Montant de l'émission 133 000 000 ZAR
Description détaillée L'Obligation émise par Absa Bank ( Afrique du Sud ) , en ZAR, avec le code ISIN ZAG000160672, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 20/06/2024







DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

AMENDED AND RESTATED APPLICABLE PRICING SUPPLEMENT




ABSA BANK LIMITED
(Incorporated in the Republic of South Africa with limited liability with company registration
number 1986/004794/06)

Issue of ZAR 33,333,333.33 Credit-Linked Notes due December 2021
under its ZAR40,000,000,000 Master Structured Note Programme registered with the JSE Limited
t/a The Johannesburg Stock Exchange

This amended and restated Applicable Pricing Supplement must be read in conjunction with
the Master Structured Note Programme Memorandum dated 7 November 2018 and
registered with the JSE on or about 31 October 2018, as amended and/or supplemented
from time to time ("the Master Programme Memorandum"), prepared by Absa Bank Limited
in connection with the Absa Bank Limited ZAR40,000,000,000 Master Structured Note
Programme.
With effect from the date on which this amended and restated Applicable Pricing
Supplement is signed, this amended and restated Applicable Pricing Supplement shal
replace and supersede any previous Applicable Pricing Supplement in all respects and this
amended and restated Applicable Pricing Supplement shal constitute the only pricing
supplement relating to the Notes of this Tranche.
Any capitalised term not defined in this amended and restated Applicable Pricing
Supplement has the meaning ascribed to it in Schedule 1 (Glossary of Terms) to Section II-A
(Terms and Conditions of the Notes) of the Master Programme Memorandum.
This document constitutes an amended and restated Applicable Pricing Supplement relating
to the Notes described herein and to be issued by the Issuer. The Notes described herein
are subject to the Terms and Conditions of the Notes, as replaced, amended and/or
supplemented by this Applicable Pricing Supplement. To the extent that there is any conflict
or inconsistency between the provisions of this amended and restated Applicable Pricing
Supplement and the provisions of the Master Programme Memorandum, the provisions of
this Applicable Pricing Supplement wil prevail for purposes of the Notes which are governed
by it.
This amended and restated Applicable Pricing Supplement supersedes any previous term
sheet, pricing supplement, confirmation, or other communication in respect of the Notes
described below.




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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By purchasing the Notes, the Holders of the Notes acknowledge and confirm that: (i) they
fully understand the nature of the Notes and the extent of their exposure to risks under and
imbedded in the Notes, and (i ) they had considered the suitability of the Notes as an
investment in the light of their own circumstances and financial position.
The Notes involve a high degree of risk, including the risk of losing some or a significant part
of the Noteholder's initial investment. A Noteholder should be prepared to sustain a total loss
of its investment in the Notes. The Notes represent general, unsecured, unsubordinated,
contractual obligations of the Issuer and rank pari passu in all respects with each other.

DESCRIPTION OF THE NOTES
DESCRIPTION OF THE NOTES
1.
Issuer:
Absa Bank Limited ("Absa")
2.
Applicable Product Supplement:
2014 Credit Linked Notes Applicable Product
Supplement contained in Section IV-B of the
Master Programme Memorandum.
3.
Status of Notes:
Unsubordinated and Unsecured. (The default
status of the Notes under the Master Structured
Note Programme is `unsubordinated and
unsecured' per Condition 5 (Status of Notes) of
the Master Programme Memorandum.)
4.
Listing:
Listed Notes
5.
Issuance Currency:
ZAR (South African Rand)
6.
Series Number:
2019-05
7.
Tranche Number:
01
8.
Issuer
Absa Bank Limited ("Absa")
9.
Applicable Product Supplement:
The 2014 Credit Linked Note Applicable Product
Supplement contained in Section IV-B of the
Master Programme Memorandum is applicable
in respect of the Notes.
10.
Aggregate Nominal Amount:
ZAR33,333,333.33 (Thirty Three Mil ion and
Three Hundred and Thirty Three Thousand
Three Hundred and Thirty Three South African
Rand and Thirty Three Cents)
(a)
Series:
ZAR33,333,333.33 (Thirty Three Million and
Three Hundred and Thirty Three Thousand




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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Three Hundred and Thirty Three South African
Rand and Thirty Three Cents)
(b)
Tranche:
ZAR33,333,333.33 (Thirty Three Million and
Three Hundred and Thirty Three Thousand
Three Hundred and Thirty Three South African
Rand and Thirty Three Cents)
11.
Reference Entity Nominal Amount:
Means an amount of the Notes expressed in ZAR
related to a Reference Entity in respect of which
a Relevant Event Determination Date has
occurred, calculated as follows:
Reference Entity Weighting of the relevant
Reference
Entity
multiplied
by
ZAR33,333,333.33.
12.
Interest:
Interest-bearing
13.
Interest Payment Basis:
Floating Rate Notes
14.
Automatic/Optional Conversion from
Not Applicable
one Interest/Redemption/Payment
Basis to another:
15.
Form of Notes:
Registered Listed Notes: The Notes in this
Tranche wil be issued in uncertificated form and
held by the CSD.
16.
Issue Date:
30 January 2019
17.
Trade Date:
23 January 2019
18.
Specified Denomination:
ZAR1,000 000.00
19.
Issue Price:
100%
20.
Interest Commencement Date:
Issue Date
21.
Maturity Date:
20 December 2021
22.
Applicable Business Day Convention:
Fol owing Business Day Convention
23.
Definition of Business Day (if different
N/A
from that set out in Glossary of Terms):
24.
Final Redemption Amount:
ZAR50,000,000.00 (Fifty Mil ion South African
Rand)
25.
Swap Costs:
The definition of "Swap Costs" in Condition
15.15 of the Credit Linked Conditions shal be




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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deleted and replaced with the following definition
for the purposes of the Notes:
"Swap Costs" means, in respect of the Notes, an
amount determined by the Calculation Agent in
a commercial y reasonable manner equal to any
expense, loss or costs (in which case expressed
as a positive number) or gain (in which case
expressed as a negative number) incurred (or
expected to be incurred) by or on behalf of the
Issuer as a result of its terminating, liquidating,
modifying, obtaining or re-establishing any
hedge term deposit, related interest rate,
currency or basis swap position, or funding
arrangements entered into by it (including with
its internal treasury function) specifically in
connection with the Notes.
26.
Last Dates to Register:
The 11th calendar day before each Interest
Payment Date, i.e. each of the 9th of March, 9th
of June, 9th of September and 9th of December
of each calendar year during the period
commencing on the Issue Date and ending on
the Maturity Date.
27.
Books Closed Periods:
The Register will be closed for a period of 10
calendar days before each Interest Payment
Date to each Floating Interest Payment Date i.e.
from each10th March to 20th March, 10th of June
to 20th of June, 10th of September to 20th of
September and from 10th of December to 20th of
December (all dates inclusive) in each calendar
year during the term of the Notes commencing
on the Issue Date and ending on the Maturity
Date.
28.
Value of aggregate Nominal Amount of
all Notes issued under the Structured
ZAR17,049,110,965.66
Note Programme as at the Issue Date:
FLOATING RATE NOTES

29.
(a)
Floating Interest Payment
Each 20th of March, 20th of June, 20th of
Dates:
September and 20th of December of each
calendar year, commencing on 20th of March
2019 and ending on the Maturity Date, each
such day being subject to adjustment in




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accordance with the Fol owing Business Day
Convention.
(b)
Minimum Interest Rate:
Not Applicable
(c)
Maximum Interest Rate:
Not Applicable
(d)
Other terms relating to the
Day Count Fraction is Act/365(fixed).
method of calculating interest
The Calculation Agent wil calculate and
(e.g.: Day Count Fraction,
determine the Interest Amount payable in
rounding up provision):
respect of the Notes on each Interest Payment
Date by multiplying the Interest Rate (Reference
Rate plus Margin) by the outstanding Aggregate
Nominal Amount of the Notes on the relevant
Interest Payment Date and multiplying such
amount by the Day Count Fraction and rounding
the resultant figure to the nearest cent, half a
cent being rounded downwards.
Provided that, if a Potential Failure to Pay has
occurred in respect of one or more of the
Reference Entities on or before an Interest
Payment Date, the outstanding Aggregate
Nominal Amount of the Notes on such Interest
Payment Date wil be determined by the
Calculation Agent without regard to the
Reference Entity Weighting of the Reference
Entity in respect of which the Potential Failure to
Pay has occurred. If no subsequent Failure to
Pay Credit Event occurs in respect of any such
Reference Entity prior to the next following
Interest Payment Date, the Calculation Agent wil
increase the Interest Amount on such Interest
Payment Date by the amount withheld on the
previous Interest Payment Date.
(e)
Manner in which the Interest
Screen Rate Determination
Rate is to be determined:
(f)
Margin:
155 basis points to be added to the relevant
Reference Rate
(h)
If Screen Determination:

(i)
Reference Rate
ZAR-JIBAR-SAFEX (3 months)
(including relevant
period by reference to




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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which the Interest Rate
is to be calculated):
(i )
Interest Rate
Each 20th of March, 20th of June, 20th of
Determination Dates:
September and 20th of December of each
calendar year, commencing on the Issue Date
and ending on 20th of September 2021, each
such day being subject to adjustment in
accordance with the Fol owing Business Day
Convention.
(i i)
Relevant Screen Page
Reuters RIC <SFX3MYLD> on Reuters Page
and Reference Code:
"SAFEY" (Page number ZA01209)
(i)
If Interest Rate to be calculated Not Applicable
otherwise than Screen
Determination, insert basis for
determining Interest
Rate/Margin/ Fal back
provisions:
(j)
Calculation Agent responsible
Absa Corporate and Investment Banking (a
for calculating amount of
division of Absa Bank Limited) or an affiliate
principal and interest:
thereof.
(k)
Interest Expiration Date:
If a Relevant Event Determination Date occurs
in respect of any one of the Reference Entities
during the Notice Delivery Period, interest will
cease to accrue in respect of an amount of the
Notes equal to the sum of the relevant
Reference Entity Nominal Amount and the Swap
Costs Difference, if any, in respect of Relevant
Event Determination Date and the relevant
Reference Entity, as of the earlier to occur of the
day prior to (a) the Interest Payment Date
occurring on or immediately preceding the
Relevant Event Determination Date and (b) the
Maturity Date or, if no Interest Payment Date
has occurred, the Issue Date, as applicable,
such date being the Interest Expiration Date.
CREDIT EVENT REDEMPTION

30.
Type of Credit Linked Note:
Portfolio CLN
31.
Redemption at Maturity:
Final Redemption Amount




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32.
Relevant Credit Event:
Means the first Credit Event to occur with
respect to each Reference Entity.
33.
Redemption following the occurrence
Applicable. Partial redemption as described
of Credit Events:
herein.
If a Relevant Credit Event occurs during the
Notice Delivery Period in respect of one or more
of the Reference Entities specified in the
Reference Portfolio Annex, the Issuer's
obligation, in each case, will be to:
(i) redeem an amount of the Notes equal to the
Reference Entity Nominal Amount of such
Reference Entity(ies) by Delivery on the relevant
Physical Settlement Date of the Deliverable
Obligations Portfolio (as defined below) related
to the relevant Reference Entity(ies), and
(i ) delist an amount of the Notes equal to the
sum of the Reference Entity Nominal Amount
and the Swap Costs Difference (if any) related
to the relevant Reference Entity(ies) in respect
of which a Relevant Credit Event has occurred.
At the Maturity Date, the Issuer wil redeem the
Notes remaining by payment of the Final
Redemption Amount determined on the basis of
the remaining outstanding Aggregate Nominal
Amount at the Maturity Date.
Upon discharge by the Issuer of the Final
Redemption Amount on the Maturity Date and
Physical Settlement on any Physical Settlement
Date or otherwise as provided herein, the
Issuer's obligations in respect of the Notes wil
be discharged.
The definition of "Deliverable Obligations
Portfolio" contained in Condition 23.2 of the
Credit Linked Conditions of the Notes is deemed
to be deleted and replaced with the following:
"Deliverable Obligations Portfolio" means,
subject to Credit Linked Condition 10.1, in
relation to each Reference Entity in respect of
which a Relevant Credit Event has occurred,
such Deliverable Obligations as may be
selected by the Issuer with a Due and Payable




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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Amount in an aggregate amount (excluding any
accrued and unpaid interest) equal to:
(a) the Reference Entity Nominal Amount
related to the relevant Reference Entity/s, as of
the Relevant Event Determination Date; less
(b) a Due and Payable Amount of such
Deliverable Obligations with a market value as
determined by the Calculation Agent equal to
the Settlement Expenses and Swap Costs.
If the amount of the Deliverable Obligations
Portfolio is a negative amount, no Deliverable
Obligations wil be required to be Delivered and
the amount of the Deliverable Obligations
Portfolio will be deemed to be zero. In addition,
the Issuer wil , on or about the date the Issuer
delists the relevant amount of the Notes in
accordance with sub section (i ) of this
paragraph above, reduce the Aggregate
Nominal Amount of the Notes by an amount
equal to the absolute value of such negative
amount (such amount being the "Swap Costs
Difference"). If an obligation by its terms
represents or contemplates an obligation to pay
an amount greater than the outstanding principal
balance of such obligation as of the Delivery
Date as a result of the occurrence or non-
occurrence of an event or circumstance, the
outstanding principal balance of such obligation
will not include any additional amount that would
be payable upon the occurrence or non-
occurrence of such event or circumstance."
34.
Extension interest:
Not Applicable
35.
Reference Entities:
Each Reference Entity (read with the relevant
Reference Entity Weighting) as specified in the
Reference Portfolio Annex.
Each Reference Entity in respect of which a
Relevant Credit Event occurs will subsequently
be removed as a Reference Entity for the
purposes of the Notes.
36.
Reference Obligations:
In respect of each Reference Entity:




DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

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(i)
the obligation identified as per the
Reference Portfolio Annex or any
Substitute Reference Obligation in
respect thereof; and
(i )
one or more obligations of each such
Reference Entity that would constitute an
Obligation or Deliverable Obligation. The
Issuer may select the relevant Reference
Obligation of the relevant Reference
Entity at any time on or before the
Physical Settlement Date.
37.
Transaction Type:
Not Applicable
38.
Al Guarantees:
Applicable
39.
Conditions to Settlement:
Applicable
Credit Event Notice: Applicable
Notice of Physical Settlement: Applicable
Notice of Publicly Available Information:
Applicable
Public Sources of Publicly Available
Information: Not Applicable
40.
Credit Events:
The following Credit Events apply:
Bankruptcy
Failure to Pay
Grace Period Extension: Applicable.
Payment Requirement:
ZAR1,000,000.00 or its equivalent in the
relevant Obligation Currency as of the
occurrence of the relevant Failure to Pay.
Restructuring
Default Requirement: ZAR10,000,000.00
or its equivalent in the relevant Obligation
Currency as of the occurrence of the
relevant Credit Event.
Obligation Acceleration
Obligation Default
Repudiation/Moratorium
Multiple Holder Obligation: Not Applicable




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Governmental Intervention
41.
Credit Event Accrued Interest:
Not Applicable
42.
Obligations:
In respect of a Reference Entity, "Obligation"
means (i) the Reference Obligation of such
Reference Entity as set out in the Reference
Portfolio Annex, or (i ) any obligation of such
Reference Entity (either directly or as provider of
a Qualifying Affiliate Guarantee or, if Al
Guarantees is Specified as applicable, as
provider of any Qualifying Guarantee) described
by the:
Obligation Category:
Bond or Loan
Obligation Characteristics:
Not Subordinated
Specified Currency: ZAR
43.
Excluded Obligations (if any):
Not Domestic Currency and Not Domestic Law
44.
Issuer CLN Settlement Option:
Not applicable
45.
CLN Settlement Method:
Physical Settlement
46.
Terms Relating to Physical Settlement:
a) Physical Settlement Period
Each period determined by the Calculation
Agent as such.
Exclude Accrued Interest.
b) Deliverable Obligations:
In respect of a Reference Entity, "Deliverable

Obligation" means (i) the Reference Obligation
of such Reference Entity as set out in the
Reference Portfolio Annex, or (i ) any obligation
of such Reference Entity (either directly or as
provider of a Qualifying Affiliate Guarantee or, if
Al Guarantees is specified as applicable, as
provider of any Qualifying Guarantee) described
by the:
Deliverable Obligation Category:
Bond or Loan
Deliverable Obligation Characteristics: