FirstRand Bank Lists New Unsecured Structured Notes on the Johannesburg Stock Exchange

FirstRand Bank Limited, a prominent financial institution, has recently listed its new unsecured structured notes, designated as FRS421, on the Johannesburg Stock Exchange (JSE). This listing is part of the bank's ongoing note programme, initially established in 2011, which has undergone periodic amendments. The newly listed financial instrument has a nominal value of R50.00 million and bears the ISIN ZAG000215641. The notes are issued at par value and have a maturity date of May 16, 2028, subject to adjustments in line with the applicable business day convention.

Key Takeaways:

• The new unsecured structured notes, FRS421, have been listed on the Johannesburg Stock Exchange (JSE) as part of FirstRand Bank's ongoing note programme.
• The notes have a nominal value of R50.00 million and bear the ISIN ZAG000215641.
• The programme under which these notes are issued has a total capacity of R60.00 billion, with a total of R51.69 billion notes issued as of the signing date of the pricing supplement.
• The FRS421 notes include a range of additional conditions, such as redemption/ payment basis, early redemption options, and specific provisions related to foreign exchange disruptions.
• The final maturity amount will be calculated based on an index-linked redemption formula, with detailed definitions provided in the pricing supplement.
• FirstRand Bank Limited, operating through its Rand Merchant Bank division, acted as the dealer for this transaction.

Statistics:

• Total notes issued under the programme: R51.69 billion
• Total programme capacity: R60.00 billion
• Nominal value of FRS421 notes: R50.00 million
• Effective date for listing: May 16, 2025
• Maturity date: May 16, 2028
• Programme established date: November 29, 2011

Sources:

• Johannesburg Stock Exchange (JSE)
• FirstRand Bank Limited