Standard Bank Lists SBRN75 Equity Index Linked Notes on Johannesburg Stock Exchange

The Standard Bank of South Africa Limited has announced the listing of its SBRN75 Equity Index Linked Notes on the Johannesburg Stock Exchange (JSE) under its structured note program. This latest issuance is part of a broader strategy outlined in the program memorandum dated December 20, 2024. The notes, due on August 20, 2030, are sponsored by the bank and feature a unique redemption structure, with staggered maturity dates and specific equity-linked conditions.

Key Takeaways:

• The authorized size of the program is ZAR150 billion, with total notes issued amounting to ZAR118.62 billion, including the current issuance of 40,000 notes with a nominal value of ZAR40 million each.
• The notes are priced at 100,000 ZA cents and linked to an equity index, with multiple redemption schedules and interim redemptions in August 2026 and August 2028.
• The maturity dates are staggered, with 25% of the notional amount maturing in 2026, 25% in 2028, and the remaining 50% in 2030.
• The placement agent for this issuance is The Standard Bank of South Africa Limited, which continues to leverage its expertise to manage complex financial instruments.
• The structured note program is an integral part of Standard Bank's strategy to offer innovative financial products that meet diverse investor needs.

Statistics:

• Total notes issued: 118,620,000
• Authorized program size: ZAR150 billion
• Nominal value per note: ZAR40 million
• Number of notes: 40,000
• Notional amount maturing in 2026: 25%
• Notional amount maturing in 2028: 25%
• Notional amount maturing in 2030: 50%

Sources:

• Johannesburg Stock Exchange
• The Standard Bank of South Africa Limited (Program Memorandum, dated December 20, 2024)