Standard Bank of South Africa Limited Lists New Equity Index Linked Notes on the JSE

Strategic Insights -

The Johannesburg Stock Exchange (JSE) has announced the approval of the listing of a new financial instrument, the SBEN63 Equity Index Linked Notes, issued by The Standard Bank of South Africa Limited. As part of the bank's Structured Note Programme, initiated on December 20, 2024, with an authorized programme amount of ZAR150.00 billion, this new issuance has been facilitated with a nominal value of ZAR25 million and will commence on September 10, 2025. These notes are linked to an equity index, with a final index level determination date scheduled for September 3, 2026. The introduction of this new financial instrument underscores the bank's commitment to innovative financial solutions in the structured financial products market.

Key Takeaways:

  • The Standard Bank of South Africa Limited has listed the SBEN63 Equity Index Linked Notes on the JSE, as part of its Structured Note Programme initiated on December 20, 2024.
  • The total notes issued under this programme now stand at ZAR118.10 billion, with the latest issuance having a nominal value of ZAR25 million and priced at 100,000 ZA cents per note, involving the issuance of 25,000 notes.
  • The final index level determination date for these linked notes is scheduled for September 3, 2026, with the finalization and last trading date set for September 4, 2026.
  • Settlement will occur electronically in compliance with JSE rules, with the notes being deposited in the Central Securities Depository.
  • The placement agent for this issuance is The Standard Bank of South Africa Limited, which remains a key player in the structured financial products market.
  • Investors are advised to consult the Pricing Supplement for comprehensive details on the specific terms and conditions of this issuance.
  • This new financial instrument will have electronic settlement, record date set for September 9, 2026, with maturity and delivery slated for September 10, 2026, followed by de-listing on September 11, 2026.

Statistics:

  • Authorized programme amount for the Structured Note Programme: ZAR150.00 billion (as of December 20, 2024).
  • Total notes issued under the programme (including the current issuance): ZAR118.10 billion.
  • Nominal value of the latest issuance of linked notes: ZAR25 million.
  • Number of notes issued: 25,000.
  • Price per note: 100,000 ZA cents.
  • Final index level determination date: September 3, 2026.
  • Finalization and last trading date: September 4, 2026.
  • Record date: September 9, 2026.
  • Maturity and delivery date: September 10, 2026.
  • De-listing date: September 11, 2026.

Sources:

  • The JSE Limited
  • The Standard Bank of South Africa Limited
  • Johannesburg Stock Exchange (JSE)