Obligation AbsaCorp 5.625% ( ZAG000153305 ) en ZAR

AbsaCorp

100 % ⇌

Afrique du Sud

ZAG000153305 ( en ZAR )

5.625% par an ( paiement annuel )

15/08/2023 - Obligation échue

Prospectus brochure de l'obligation Absa Group ZAG000153305 en ZAR 5.625%, échue

1 000 000 ZAR

370 000 000 ZAR

Absa Group est une société financière diversifiée d'Afrique du Sud offrant des services bancaires aux particuliers, aux entreprises et aux institutions, avec des opérations dans plusieurs pays africains.

Cet article financier rétrospectif se penche sur une obligation précédemment émise par Absa Group, identifiable par le code ISIN ZAG000153305, qui a atteint sa pleine maturité et a été intégralement remboursée à ses détenteurs. L'émetteur, Absa Group, est l'un des principaux groupes de services financiers diversifiés en Afrique du Sud, avec une présence significative sur le continent africain, offrant une gamme complète de produits et services bancaires, d'investissement et d'assurance aux particuliers, aux entreprises et aux institutions. Cette obligation spécifique, libellée en rands sud-africains (ZAR), avait été émise depuis l'Afrique du Sud et portait un taux d'intérêt fixe de 5,625%, versé annuellement, un rendement qui a caractérisé son profil de revenu pour les investisseurs tout au long de sa durée de vie. Le montant total de l'émission s'élevait à 370 000 000 ZAR, ce qui en faisait une opération de taille substantielle sur le marché obligataire, tandis que la taille minimale d'achat fixée à 1 000 000 ZAR suggérait une cible d'investisseurs institutionnels ou à valeur nette élevée. Ayant atteint sa date de maturité le 15 août 2023, cette obligation a été intégralement remboursée à sa valeur nominale de 100%, marquant la conclusion réussie de son cycle de vie d'investissement et honorant les engagements financiers d'Absa Group envers ses obligataires.

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APPLICABLE PRICING SUPPLEMENT

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

Issue of ZAR370,000,000.00 Capped Floating Rate Notes due 15 August 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 27 October 2015 and approved by the JSE Limited t/a The
Johannesburg Stock Exchange (the "JSE") on or about 30 October 2015, prepared by Absa Bank
Limited in connection with the Absa Bank Limited ZAR40,000,000,000 Master Structured Note
Programme, as amended and/or supplemented from time to time (the "Master Programme
Memorandum").
Any capitalised terms not defined in this Applicable Pricing Supplement have the meanings ascribed
to them in the Glossary of Terms.
This document constitutes the Applicable Pricing Supplement relating to the issue of the Notes
described herein. The Notes described herein are issued on and subject to the Terms and Conditions
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 Applicable Pricing
Supplement and the provisions of the Master Programme Memorandum, the provisions of this
Applicable Pricing Supplement will prevail for purposes of these Notes.
This Applicable Pricing Supplement supersedes any previous pricing supplement, confirmation, term
sheet or other communication in respect of the Notes described below.
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 (ii) they had considered the suitability of the Notes as an investment in the light of their
own circumstances and financial position.

123135v2

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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.

DESCRIPTION OF THE NOTES

1.
Issuer:
Absa Bank Limited ("Absa")
2.
Applicable Product Supplement:
Not Applicable
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.
Issuance Currency:
ZAR (South African Rand)
5.
Listing:
Listed Notes
6.
Rated:
Not rated
7.
Series Number:
2018-41
8.
Tranche Number:
ASN278
9.
Aggregate Nominal Amount:
ZAR370,000,000.00
(a)
Series:
ZAR370,000,000.00
10.
Interest:
Interest-bearing
11.
Interest Payment Basis:
Floating Rate Notes
12.
Automatic/Optional Conversion from
Not Applicable
one Interest/Redemption/Payment
Basis to another:
13.
Form of Notes:
Registered Listed Notes: The Notes in this
Tranche are issued in uncertificated form and

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held in the Central Securities Depository.
14.
Trade Date:
07 August 2018
15.
Issue Date:
15 August 2018
16.
Nominal Amount per Note:
ZAR1,000,000.00
17.
Specified Denomination:
ZAR1,000,000.00 (Notes are subject to a
minimum denomination of ZAR1,000,000.00)
18.
Issue Price:
100%
19.
Interest Commencement Date:
Issue Date
20.
Maturity Date:
15 August 2023, subject to adjustment in
accordance with the applicable Business Day
Convention.
21.
Applicable Business Day Convention:
Following Business Day
22.
Definition of Business Day (if different
Not different from the definition set out in
from that set out in the Glossary of
Glossary of Terms.
Terms):
23.
Final Redemption Amount:
ZAR370,000,000.00
24.
Last Date to Register:
11 calendar days before each Interest Payment
Date, i.e. 4 February, 4 May, 4 August and 4
November of each calendar year and ending on
the Maturity Date.
25.
Books Closed Period(s):
The Register will be closed from 10 calendar days
before each Floating Interest Payment Date to
each Floating Interest Payment Date (all dates
inclusive) i.e. each 05 February to 15 February,
05 May to 15 May, 05 August to 15 August and
05 November to 15 November of each calendar
year up to the Maturity Date, each such day
being subject to adjustment in accordance with
the applicable Business Day Convention.
26.
Value of aggregate Nominal Amount of
ZAR 15,246,526,355.66

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all Notes issued under the Structured
Note Programme as at the Issue Date:
FLOATING RATE NOTES
Applicable
27.

(a)
Floating Interest Payment
Each , 15 November, 15 February, 15 May and 15
Date(s):
August, of each calendar year during the period
commencing on 15 November 2018 and ending
on the Maturity Date, each such day being
subject to adjustment in accordance with the
applicable Business Day Convention.
(b)
Minimum Interest Rate:
Not Applicable
(c)
Maximum Interest Rate:
In respect of each Interest Period, a rate of 9.75%
(nine point seven five per cent.) per annum.
(d)
Other terms relating to the
In respect of each Note, the interest amount for
method of calculating interest
each Interest Period and subject to the Maximum
(e.g.: Day Count Fraction,
Interest Rate will be determined and calculated
rounding up provision):
by the Calculation Agent in accordance with the
following formula:
IA = SD*FIR*DCF
Where:
"IA" means the relevant Interest Amount per
Note;
"SD" means the Specified Denomination per
Note;
"FIR" means the Floating Interest Rate as
determined and calculated by the Calculation
Agent in accordance with the following formula:
FIR = min(RR + MG, MIR)
Where:
"FIR" means the Floating Interest Rate to be
determined;
"min" means "the minimum of" or "the lesser

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of";
"RR" means the Reference Rate as specified
below and determined in accordance with the
provisions of the Master Programme
Memorandum;
"MG" means the Margin as specified below;
"MIR" means the Maximum Interest Rate as
specified above;
"DCF" means the Day Count Fraction being
Actual/365 (fixed); and
"*" means "multiplied by".
(e)
Manner in which the Interest
Screen Rate Determination
Rate is to be determined:
(f)
Margin:
195 basis points or 1.95%
(g)
If Screen Determination:

(i)
Reference Rate:
ZAR-JIBAR-SAFEX (3 months)
(including the relevant
period by reference to
which the Interest Rate
is to be calculated):
(ii)
Interest Rate
Each 15 August, 15 November, 15 February, 15
Determination Date(s):
May of each calendar year, during the period
commencing on the Issue Date and ending on 15
May 2023, each such day being subject to
adjustment in accordance with the applicable
Business Day Convention.
(iii)
Relevant Screen Page
Reuters RIC <SFX3MYLD> on Reuters Page
and Reference Code:
"SAFEY" (Page number ZA01209)
(h)
If Interest Rate to be calculated
Not Applicable
otherwise than by ISDA
Determination or Screen
Determination, insert basis for
determining Interest

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Rate/Margin/ Fallback
provisions:
(i)
Calculation Agent responsible
Absa Bank Limited acting through its Corporate
for calculating amount of
and Investment Banking division or an affiliate
principal and interest:
thereof.
PROVISIONS REGARDING

REDEMPTION/MATURITY
28.
Redemption at the option of the Issuer: No
29.
Redemption at the Option of
No
Noteholders:
30.
Early Redemption Amount(s) payable
Yes
on redemption for taxation reasons,
Change in Law or on Event of Default (if
required):
If yes:

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

31.
Financial Exchange:
JSE Limited t/a The Johannesburg Stock Exchange
32.
Calculation Agent:
Absa Bank Limited acting through its Corporate
and Investment Banking division or an affiliate
thereof.
33.
Paying Agent:
Absa Bank Limited acting through its Corporate
and Investment Banking division or an affiliate
thereof.

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34.
Specified office of the Paying Agent:
15 Alice Lane
Sandton
2196
Gauteng
Republic of South Africa
35.
Transfer Agent:
Absa Bank Limited acting through its Corporate
and Investment Banking division or an affiliate
thereof.
36.
Additional selling restrictions:
Not Applicable
37.
ISIN No.:
ZAG000153305
38.
Stock Code:
ASN278
39.
Method of distribution:
Private Placement
40.
If non-syndicated, name of Dealer:
Absa Bank Limited acting through its Corporate
and Investment Banking division or an affiliate
thereof.
41.
Governing law:
Law of the Republic of South Africa
42.
Other provisions:
Taxation
Condition 9 titled "Taxation" in the section II-A of
the 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
(iii)
the insertion of the following additional
paragraphs immediately after Condition

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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
9.11 where any combination of the
scenarios or occurrences
contemplated in Conditions 9.1 to

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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 the Republic
of South Africa, references in Condition 8.2
(Redemption for Tax Reasons or due to a Change
in Law) and Condition 9 (Taxation) to South
Africa will be read and construed as references to
the Republic of South Africa and/or to such other
jurisdiction, authority or agency."
43.
Issuer's Central Securities Depositary
Standard Chartered Bank
Participant (CSDP):
44.
Issuer Rating on Issue Date:
Aa3.za as assigned by Moody's on 17 July 2017
and to be reviewed by Moody's from time to
time.
45.
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.
46.
Material Change in Financial or Trading
The Issuer confirms that as at the date of this
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 latest audited financial
statements for the twelve months ended 31
December 2017. 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

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ascertain such facts have been made as well as that this Applicable Pricing Supplement contains all
information required by law and the JSE Listing 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 Applicable Pricing Supplement and listing of the debt securities is not to be taken in any way as
an indication of the merits of the Issuer or of the debt securities and that, to the extent permitted by
law, the JSE wil not be liable for any claim whatsoever.

for and on behalf of
ABSA BANK LIMITED

_____________________________

_______________________________
Letitia Roux
Name:

Shamila Thomas

Name:
Capacity:

Capacity: Head of OTC Confirmations
Confirmation Specialist
Date:

08-08-2018 | 14:37:57 PM SAST

Date: 08-08-2018 | 05:43:16 AM PDT