Obligation Absa Group 0% ( ZAG000169863 ) en ZAR

Absa Group

100 % ⇌

Afrique du Sud

ZAG000169863 ( en ZAR )

31/07/2023 - Obligation échue

Prospectus brochure de l'obligation Absa Group ZAG000169863 en ZAR 0%, échue

1 000 000 ZAR

50 000 000 ZAR

L'Obligation émise par Absa Group ( Afrique du Sud ) , en ZAR, avec le code ISIN ZAG000169863, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 31/07/2023

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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 50,000,000 Growthpoint Properties Limited Credit-Linked Notes due 31 July 2023
under its ZAR40,000,000,000 Master Structured Note Programme approved by the JSE Limited
t/a The Johannesburg Stock Exchange

This 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 Applicable Pricing Supplement is signed, this Applicable Pricing
Supplement shall replace and supersede the any previous Applicable Pricing Supplement in all respects
and this Applicable Pricing Supplement shall constitute the only pricing supplement relating to the Notes
of this Tranche.
Any capitalised terms not defined in this Applicable Pricing Supplement have the meanings ascribed to
them in Section II-A of the Master Programme Memorandum headed "Terms and Conditions of the
Notes", as amended by the Applicable Product Supplement.
This document constitutes the Applicable Pricing Supplement ("this Applicable Pricing Supplement")
relating to the issue of Notes described herein. The Notes described herein are issued on and subject
to the Terms and Conditions as replaced, amended and/or supplemented by the Applicable Product
Supplement and/or this Applicable Pricing Supplement. To the extent that there is any conflict or
inconsistency between the provisions of this Applicable Pricing Supplement and the provisions of the
Master Programme Memorandum and/or the Applicable Product Supplement, the provisions of this
Applicable Pricing Supplement wil prevail for purposes of the Notes described herein.
This Applicable Pricing Supplement supersedes any previous pricing supplement, confirmation, term
sheet or other communication with respect to the Notes described herein.
The Holders of the Notes should ensure that: (i) they fully understand the nature of the Notes and the
extent of their exposure to risks, and (ii) they consider the suitability of the Notes as an investment in
the light of their own circumstances and financial position.

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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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.
Noteholders are reminded that the Notes constitute obligations of the Issuer only and of no other person.
Therefore, potential Noteholders should understand that they are relying on the credit worthiness of the
Issuer.

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:
2020-68
7.
Tranche Number:
1
8.
Aggregate Nominal Amount:

(a)
Series:
ZAR 50,000,000.00 (Fifty Mil ion South African Rand)
(b)
Tranche:
ZAR 50,000,000.00 (Fifty Mil ion South African Rand)
9.
Interest:
Interest-bearing
10.
Interest Payment Basis:
Floating Rate Notes
11.
Automatic/Optional
Conversion Not Applicable
from
one
Interest/Redemption/Payment
Basis to another:

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12.
Form of Notes:
Registered listed Notes: The Notes in this Tranche will
be issued in uncertificated form and held by the CSD.
13.
Issue Date:
29 July 2020
14.
Trade Date:
22 July 2020
15.
Specified Denomination:
ZAR1,000,000 per Note.
16.
Issue Price:
100%
17.
Interest Commencement Date
Issue Date
18.
Maturity Date:
31 July 2023
19.
Applicable
Business
Day Fol owing Business Day Convention.
Convention:
20.
Business Days:
Johannesburg
21.
Final Redemption Amount:
ZAR 50,000,000.00 (Fifty Mil ion South African Rand)
22.
Credit Event Backstop Date:
Not Applicable
23.
Last Date to Register:
11 calendar days before each Floating Interest Payment
Date, i.e. each of the 18 October, 18 January, 18 April
and the 18 July in each year or if such day is not a
business day then the close of business on the business
day immediately preceding the first day of a books closed
period during the period commencing on the Issue Date
and ending on the Maturity Date
24.
Books Closed Periods:
The Register wil be closed from 10 calendar days before
each Floating Interest Payment Date i.e. 19 October, 19
January, 19 April and the 19 July in each year until the
Maturity.
ZAR 24,253,087,887.96
25.
Value
of
aggregate
Nominal
Amount of all Notes issued under
the Structured Note Programme as
at the Issue Date:

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FLOATING RATE LEG:

Means each of the 29th October, 29th January, 29th April
26.
(a)
Floating Interest Payment and the 29th July in each year with the first Floating
Dates:
Interest Payment Date being 29 October 2020 ending on
the Maturity Date or, if such day is not a Business Day,
the Business Day on which interest wil be paid, as
determined in accordance with the Applicable Business
Day Convention (as specified in this Applicable Pricing
Supplement),
(b)
Minimum Interest Rate:
Not Applicable
(c)
Maximum Interest Rate:
Not Applicable
(d)
Other terms relating to the Day Count Fraction is Actual/365 (fixed)
method
of
calculating
interest (e.g.: Day Count
Fraction,
rounding
up
provision):
(e)
Manner in which the Interest Screen Rate Determination
Rate is to be determined:
(f)
Margin:
210 basis points (2.1%) 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 which the Interest
Rate
is
to
be
calculated):

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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(ii)
Interest
Rate The first Interest Determination Date wil be the Issue
Determination
Date i.e. 29th July 2020, thereafter on 29th October, 29th
Dates:
January and 29th April in each calendar year, during the
term of the Notes, commencing on the Issue Date and
ending on the 29th July 2023 or if such day is not a
Business Day, the Business Day on which interest wil be
paid, as determined in accordance with the Applicable
Business Day Convention.
(ii )
Relevant
Screen Reuters RIC <SFX3MYLD> on Reuters Page "SAFEY"
Page
and (Page number ZA01209).
Reference Code:
(i)
If Interest Rate to be Not Applicable
calculated otherwise than
Screen
Determination,
insert basis for determining
Interest
Rate/Margin/
Fal back provisions:
(j)
Calculation
Agent Absa Corporate and Investment Banking (a division of
responsible for calculating Absa Bank Limited) or an affiliate thereof, acting in good
amount of principal and faith and in a commercially reasonable manner.
interest:
(k) Interest Period
Each period commencing on (and including) an Interest
Payment Date and ending on (but excluding) the
following Interest Payment Date; provided that the first
Interest Period wil commence on (and include) the
Interest Commencement Date and end on (but exclude)
the following Interest Payment Date (each Interest
Payment Date as adjusted in accordance with Following
Business Day Convention).
CREDIT EVENT REDEMPTION:

27.
Type of Credit Linked Note:
Single Name CLN
28.
Redemption at Maturity:
Final Redemption Amount
29.
Redemption
following
the Applicable
occurrence of Credit Events:
30.
Extension interest:
Not Applicable
Growthpoint Properties Limited
31.
Reference Entity:

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The financial statements of the Reference Entity are
32.
Financial
Statements
of
the available at::
Reference Entity:
https://growthpoint.co.za/investor-relations/final-results
33.
Standard Reference Obligation:
Not Applicable
34.
Reference Obligation:
The obligation identified as follows:
Primary Obligor: Growthpoint Properties Limited
Maturity: 03/04/2024
CUSIP/ISIN: ZAG000143025
35.
Transaction Type:
Not Applicable
36.
Al Guarantees:
Not Applicable
37.
Conditions to Settlement:
Applicable
Credit Event Notice: Applicable
Notice of Publicly Available Information: Applicable
38.
Credit Events:
The following Credit Events apply:
Bankruptcy
Failure to Pay
Grace Period Extension: Applicable
Grace Period: 30 calendar days
Payment Requirement: ZAR10,000,000
Repudiation/Moratorium
Restructuring
Mod R: Not Applicable
Mod Mod R: Not Applicable
Multiple Holder Obligation: Applicable
Default Requirement: ZAR10,000,000
39.
Credit Event Accrued Interest:
Not Applicable
40.
Obligations:
Obligation Category: Bond
Obligation Characteristics: Not Subordinated
Maximum Maturity: 5.5 years

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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Specified Currency: ZAR
41.
Excluded Obligations:
Not Domestic Currency and Not Domestic Law
42.
Issuer CLN Settlement Option:
Not Applicable
43.
(a) CLN Settlement Method
Physical Settlement
(b) Credit Event Redemption Means in respect of each Physically Delivered CLN, such
Amount:
Deliverable Obligations with a Due and Payable Amount
or an Outstanding Principal Balance in an aggregate
amount (excluding any accrued and unpaid interest)
equal to:
(i)
The Aggregate Nominal Amount of the Notes
outstanding as of the relevant Event
Determination Date; minus
(ii)
a Due and Payable Amount or an Outstanding
Principal
Balance
of
such
Deliverable
Obligations with a market value determined by
the Calculation Agent equal to such Note's pro
rata share of the Settlement Expenses and Swap
Costs.
(c) Deliverable Obligations:
Deliverable
Obligation Deliverable
Obligation
Category:
Characteristics:

Bond
Not Subordinated

Not Contingent

Transferable

Not Bearer
PROVISIONS
REGARDING
REDEMPTION / MATURITY
44.
Redemption at the option of the No
Issuer:
45.
Redemption at the Option of No
Noteholders:
46.
Early
Redemption
Amount(s) Yes
payable on redemption for taxation
reasons, Change in Law or on Event
of Default (if required):

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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If yes:

(a)
Amount payable; or
The Early Redemption Amount determined and
calculated by the Calculation Agent in accordance with
Condition 8.5 of the Terms and Conditions of the Notes.
(b)
Method of calculation of Not Applicable
amount payable:
GENERAL

47.
Financial Exchange:
JSE Limited t/a The Johannesburg Stock Exchange
48.
Calculation & Paying Agent
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.
49.
Calculation Agent City:
Johannesburg
50.
Specified office of the Calculation & 15 Alice Lane
Paying Agent:
Sandton
2196
Gauteng
Republic of South Africa
51.
Settlement Agent:
Standard Chartered Bank
52.
Specified office of the Settlement 4 Sandown Valley Crescent, Sandton, South Africa
Agent:
53.
Additional selling restrictions:
Not Applicable
54.
ISIN No.:
ZAG000169863
55.
Stock Code:
ASN472
56.
Method of distribution:
Private Placement
57.
If syndicated, names of Managers:
Not Applicable
58.
If non-syndicated, name of Dealer:
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.
59.
Governing law:
The laws of the Republic of South Africa

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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60.
Issuer Rating on Issue Date:
Issuer Rating: zaAA being the National Long-Term Credit
Rating as assigned by Standard & Poor's on 26
November 2019 and to be reviewed by Standard &
Poor's from time to time.
61.
Issuer Central Securities Depositary Standard Chartered Bank
Participant (CSDP):
62.
Debt Listing Requirements:
In accordance with Section 4.22 of the Debt Listing
Requirements, the Issuer confirms that the Programme
Amount has not been exceeded at the time of the issuing
of the Notes.
Condition 9 titled "Taxation" in the section II-A of the
63.
Other Provisions:
Master Programme Memorandum titled "Terms and
Conditions of the Notes" is amended in relation to this
Tranche of Notes by (i) the replacement of the words
after the dash in Condition 9.3 with the words "provided
that this exception shall only apply to that portion of the
withholding or deduction which could lawfully have been
so reduced", (ii) the deletion of Condition 9.8 and (ii ) the
insertion of the following additional paragraphs
immediately after Condition 9.7:
"9.8
where such withholding or deduction is imposed
on a payment to an individual and is required to
be made pursuant to European Council
Directive 2003/48/EC (or any other directive
implementing the conclusions of the 2312th
Economic and Financial Affairs Council
(ECOFIN) meeting of 26 and 27 November 2000)
on the taxation of savings income or any law
implementing or complying with, or introduced in
order to conform to, such directive; or
9.9
held by or on behalf of a Noteholder in
circumstances where such party could lawfully
reduce the amount of taxation otherwise levied or
leviable upon the principal or interest by virtue of
any tax treaty or non-South African tax laws
applicable to such Noteholder, whether by way of
a tax credit, rebate deduction or reduction equal
to all or part of the amount withheld or otherwise,
and whether or not it is actually claimed and/or
granted and/or allowed; or
9.10
in respect of any present or future taxes, duties,
assessments or governmental charges of
whatever nature which are payable otherwise
than by withholding from payment of principal or
interest, if any, with respect to such Note; or

DocuSign Envelope ID: 6ABB8545-27FC-4D31-A1F3-71764552E0C5

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9.11
where any combination of the scenarios or
occurrences contemplated in Conditions 9.1 to
9.10 above occurs.
The Issuer is not liable for or otherwise obliged to pay
any taxes that may arise as a result of the ownership,
transfer or redemption of any Note.
If the Issuer becomes subject generally at any time to
any taxing jurisdiction, authority or agency other than or
in
addition
to
South
Africa,
references
in
Conditions 8.2 (Redemption for Tax Reasons or due to a
Change in Law) and 9 (Taxation) to South Africa shall be
read and construed as references to South Africa and/or
to such other jurisdiction, authority or agency."
64. Material Change in Financial or The Issuer confirms that as at the date of this
Trading Position
Applicable Pricing Supplement, there has been no
material change in the financial or trading position of the
Issuer and its subsidiaries since the date of the Issuer's
audited financial statements for the twelve months
ended 31 December 2019. This statement has not been
confirmed nor verified by the auditors of the Issuer.

Responsibility:
The Issuer certifies that to the best of its knowledge and belief there are no facts that have been omitted
which would make any statement false or misleading and that all reasonable enquiries to ascertain such
facts have been made as well as that this Applicable Pricing Supplement contains all information
required by law and the JSE Debt Listings Requirements. The Issuer accepts full responsibility for the
accuracy of the information contained in this Applicable Pricing Supplement and the annual financial
report, the amendments to the annual financial report or any supplements from time to time, except as
otherwise stated therein.
The JSE takes no responsibility for the contents of the Applicable Pricing Supplement and the annual
financial report of the Issuer and any amendments or supplements to the aforementioned documents.
The JSE makes no representation as to the accuracy or completeness of the Applicable Pricing
Supplement and the annual financial report of the Issuer and any amendments or supplements to the
aforementioned documents and expressly disclaims any liability for any loss arising from or in reliance
upon the whole or any part of the aforementioned documents. The JSE's approval of the registration of
the Programme Memorandum and listing of the debt securities is not to be taken in any way as an