Sign in Subscribe
Banks (Finance)

FirstRand Bank Limited Lists New Financial Instrument on the Johannesburg Stock Exchange

Strategic Insights

— 1 min read

FirstRand Bank Limited has successfully listed its new financial instrument, FRS440 unsecured structured notes, on the Johannesburg Stock Exchange. The listing was effective on August 28, 2025, following the approval of the JSE. The new instrument, which is part of FirstRand's note programme dated November 29, 2011, has a nominal issued amount of R357,911,172. The listing is a significant milestone for the bank, allowing it to offer investors a new financial product with specific terms and conditions.

Key Takeaways:

  • FirstRand Bank Limited has listed its FRS440 unsecured structured notes on the Johannesburg Stock Exchange, effective August 28, 2025.
  • The FRS440 notes are part of the bank's note programme dated November 29, 2011, and have a nominal issued amount of R357,911,172.
  • The notes are single index and currency linked, with a maturity date of August 28, 2030, as adjusted according to the business day convention.
  • The final maturity amount is determined by the calculation agent based on a specific formula outlined in the pricing supplement.
  • The notes have a redemption/payment basis, where the final and early redemption amounts are determined in accordance with the terms and conditions of the programme.
  • The programme amount is R90,000,000,000.00, with a total of R55,821,667,459.79 in notes issued under the programme as of the pricing supplement signature date.
  • The dealer responsible for the deal is FirstRand Bank Limited, acting through its Rand Merchant Bank division.
  • The debt sponsor is FirstRand Bank Limited.

Statistics:

  • Nominal issued amount: R357,911,172
  • Programme amount: R90,000,000,000.00
  • Total notes in issue: R55,821,667,459.79
  • Maturity date: August 28, 2030
  • Issue date: August 28, 2025
  • Last day to register: August 23, 2030
  • Books close: August 24, 2030

Sources:

  • Johannesburg Stock Exchange company announcement
  • FirstRand Bank Limited press release (source: Johannesburg Stock Exchange)

Read more