FirstRand Bank Lists FRS440 Unsecured Structured Notes on Johannesburg Stock Exchange

Strategic Insights -

FirstRand Bank Limited has listed its new financial instrument, the FRS440 unsecured structured notes, on the Johannesburg Stock Exchange (JSE), marking a significant move in the bank's strategic financial initiatives. The notes, part of the bank's note programme initially dated November 29, 2011, have a nominal issued value of R357.91 million and a maturity date set for August 28, 2030. This listing brings the total notes in issue under FirstRand Bank's programme to R55.82 billion, with the programme capped at R90.00 billion.

Key Takeaways:

  • The FRS440 unsecured structured notes have a nominal issued value of R357.91 million and are classified as single index and currency linked notes.
  • The notes are issued at a price that is 100 percent of par value and have a maturity date set for August 28, 2030.
  • The total notes in issue under FirstRand Bank's programme amount to R55.82 billion, with the programme capped at R90.00 billion.
  • The redemption terms allow for both final and early redemption options, with specific conditions potentially modified from the original terms and conditions.
  • FX disruption provisions are addressed within the pricing supplement.
  • The listing signifies a move within the designated market category for financial instruments, aligning with the bank's strategic financial initiatives.
  • The notes are offered through FirstRand Bank Limited's Rand Merchant Bank division.

Statistics:

  • Nominal issued value of FRS440 notes: R357.91 million
  • Total notes in issue under FirstRand Bank's programme: R55.82 billion
  • Programme cap: R90.00 billion
  • Maturity date: August 28, 2030
  • Last day to register for notes: August 23, 2030
  • Books close: August 24, 2030

Sources:

  • Johannesburg Stock Exchange (JSE)
  • FirstRand Bank Limited press release, dated 26 Aug 2025 (Johannesburg Stock Exchange)