FirstRand Bank Limited Lists New Financial Instruments on Johannesburg Stock Exchange

FirstRand Bank Limited, a leading banking group in South Africa, has successfully listed three new financial instruments, FRS422, FRS423, and FRS424, on the Johannesburg Stock Exchange (JSE). These financial instruments, which are part of FirstRand's note programme dated 29 November 2011, are structured notes that will be traded on the JSE. The listing of these instruments was made effective as of 3 June 2025.

Key Takeaways:

• FirstRand Bank Limited has listed three new financial instruments, FRS422, FRS423, and FRS424, on the Johannesburg Stock Exchange (JSE), as part of its note programme dated 29 November 2011.
• The instruments are structured notes with a nominal value of R34 million, R33 million, and R33 million, respectively, and will have a maturity date of 3 June 2030.
• The final maturity amount for each instrument will be calculated by the calculation agent based on the index linked redemption amount (ILRA) formula, which includes parameters such as the index, price return, maximum, and exchange rate.
• The programme amount for the note programme is R60 billion and a total of R52.14 billion in notes have been issued under the programme as of the signature date of the FRS424 pricing supplement.
• The issue date for the instruments is 3 June 2025, and the issue price is 100% of par.
• The business day convention for the instruments is the following business day, and the redemption/payment basis is as specified in the pricing supplement.

Statistics:

• Nominal value of FRS422: R34,000,000.00
• Nominal value of FRS423: R33,000,000.00
• Nominal value of FRS424: R33,000,000.00
• Total notes in issue under programme: R52,139,503,155.76
• Programme amount: R60,000,000,000.00

Sources:

• Johannesburg Stock Exchange, "Listing of New Financial Instruments" announcement, 3 June 2025.
• FirstRand Bank Limited, "FRS422, FRS423 and FRS424 Pricing Supplements" dated 30 May 2025.