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Banks (Finance)

Johannesburg Stock Exchange Approves Listing of RLN138 Equity Index Linked Notes

Strategic Insights

— 1 min read

The Johannesburg Stock Exchange (JSE) has approved the listing of RLN138 Equity Index Linked Notes issued by The Standard Bank of South Africa Limited. This move is part of the bank's Structured Note Programme aimed at expanding its financial instruments, as initially outlined in the programme dated 26 January 2021. The newly listed notes are linked to an equity index and will be issued at 100% of their nominal value, with 23,273 individual notes available for investors.

Key Takeaways:

  • The JSE has granted listing approval for RLN138 Equity Index Linked Notes issued by The Standard Bank of South Africa Limited under its Structured Note Programme.
  • The programme has an authorised size of ZAR150.00 billion, with a total of ZAR11.08 billion in issued notes, including the current RLN138 issuance.
  • The RLN138 notes have a nominal value of ZAR23.27 million and will be issued at 100% of their value, with 23,273 individual notes available for investors.
  • The notes are linked to an equity index and offer a structured return tied to the performance of specified equity indices.
  • The declaration date for the notes is set for 28 May 2030, with the last trading date on 11 June 2030, and trading suspension scheduled for 12 June 2030.
  • The record date determines the note holders eligible for the settlement, set for 14 June 2030, with the maturity or delivery date fixed for 25 June 2030.
  • The settlement process involves physical delivery of Exchange Traded Funds (ETFs) to noteholders on the maturity date, as specified in the pricing supplement.
  • The notes will be deposited within the Central Securities Depository (CSD) and settled electronically in accordance with the JSE's regulatory framework, representing a moderate move within the designated market category.
  • The Standard Bank of South Africa Limited acts as the placement agent for these notes, with investors advised to consult the pricing supplement for comprehensive terms and conditions.

Statistics:

  • Total issued notes under the Structured Note Programme: ZAR11.08 billion
  • Authorised size of the programme: ZAR150.00 billion
  • Nominal value of the RLN138 notes: ZAR23.27 million
  • Number of individual notes available for investors: 23,273
  • Linked equity index: Not specified
  • Equity indices: Not specified
  • Settlement date: 25 June 2030
  • Redemption basis: Tied to the equity index

Sources:

  • The Johannesburg Stock Exchange (JSE) - News Release
  • The Standard Bank of South Africa Limited - Structured Note Programme
  • Johannesburg Stock Exchange (JSE) - Regulatory Framework

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