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Banks (Finance)

Standard Bank of South Africa Limited Lists Senior Unsecured Floating Rate Credit Linked Notes on the Johannesburg Stock Exchange

Strategic Insights

— 2 min read

The Standard Bank of South Africa Limited has successfully listed its Senior Unsecured Floating Rate Credit Linked Notes, SBC199, on the Johannesburg Stock Exchange (JSE). This new financial instrument, with a total issue size of ZAR117,044,937,613.60, is part of the bank's Structured Note Programme, authorized with a total programme size of ZAR150,000,000,000. The notes will mature on 28 February 2031 and will pay a coupon rate of three-month ZAR-JIBAR-SAFEX plus 1.18%.

Key Takeaways:

  • The Standard Bank of South Africa Limited has listed its Senior Unsecured Floating Rate Credit Linked Notes, SBC199, on the Johannesburg Stock Exchange (JSE) on 01 September 2025.
  • The notes have a total issue size of ZAR117,044,937,613.60 and are part of the bank's Structured Note Programme, authorized with a total programme size of ZAR150,000,000,000.
  • The notes will mature on 28 February 2031 and will pay a coupon rate of three-month ZAR-JIBAR-SAFEX plus 1.18%.
  • The issue date is 01 September 2025, and the first interest payment date is 30 November 2025.
  • The interest payment dates will be on 28 February, 31 May, 31 August, and 30 November of each year until the maturity date, with the first interest payment date being 30 November 2025.
  • The business day count/convention is actual/365(fixed) and following business day, and the books close period will be from each 23 February, 26 May, 26 August, and 25 November (and during a leap year, the Books Closed period will be 24 February rather than 23 February) until the applicable interest payment date.
  • The last day to register will be 17h00 on 22 February, 25 May, 25 August, and 24 November of each year (and during a leap year, the Last Day to Register will be 23 February rather than 22 February), or if such day is not a business day, the business day before each books closed period.
  • The placement agent for the notes is The Standard Bank of South Africa Limited, and the notes are not applicable to guarantee, security, or credit enhancement.

Statistics:

  • Issue size: ZAR117,044,937,613.60
  • Total programme size: ZAR150,000,000,000
  • Coupon rate: three-month ZAR-JIBAR-SAFEX plus 1.18%
  • Maturity date: 28 February 2031
  • Issue date: 01 September 2025
  • First interest payment date: 30 November 2025
  • Interest payment dates: 28 February, 31 May, 31 August, and 30 November of each year until the maturity date

Sources:

  • Johannesburg Stock Exchange - Company Announcement - "SBC199" Stock Code: SBC199 ISIN Code: ZAG000218710 (https://www.jse.co.za/tradeable-instruments/company-announcements/sbc199-announcement)
  • The Standard Bank of South Africa Limited - Structured Note Programme (https://www.standardbank.co.za/investor-centre/structured-note-programme)

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