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Banks (Finance)

Standard Bank of South Africa Lists New Financial Instrument on Johannesburg Stock Exchange

Strategic Insights

— 1 min read

The Standard Bank of South Africa Limited has launched a new financial instrument, SBC164, on the Johannesburg Stock Exchange (JSE) under its Structured Note Programme. The Senior Unsecured Floating Rate Credit Linked Notes will mature on June 20, 2030, and have a nominal value of ZAR200.00 million. The interest rate will be linked to the three-month ZAR-JIBAR-SAFEX, plus an additional 4.20%, with interest payments scheduled for March 20, June 20, September 20, and December 20 of each year.

Key Takeaways:

  • The Standard Bank of South Africa Limited has listed a new financial instrument, SBC164, on the JSE under its Structured Note Programme.
  • The instrument is a Senior Unsecured Floating Rate Credit Linked Note with a maturity date of June 20, 2030.
  • The nominal value of the notes is ZAR200.00 million, with a coupon rate linked to the three-month ZAR-JIBAR-SAFEX, plus an additional 4.20%.
  • Interest payments will be made quarterly on March 20, June 20, September 20, and December 20 of each year.
  • The notes will be electronically settled in the Central Depository according to JSE Rules.
  • The total value of notes issued by The Standard Bank of South Africa Limited amounts to ZAR111.23 billion, with an authorized programme size of ZAR150.00 billion.

Statistics:

  • Nominal value of the notes: ZAR200.00 million
  • Maturity date: June 20, 2030
  • Coupon rate: 4.20% above the three-month ZAR-JIBAR-SAFEX
  • Interest payment schedule: Quarterly, on March 20, June 20, September 20, and December 20 of each year
  • Total value of notes issued: ZAR111.23 billion
  • Authorized programme size: ZAR150.00 billion

Sources:

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

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