Bond AbsaBanque 0% ( ZAG000151655 ) in ZAR

AbsaBanque

100 % ⇌

South Africa

ZAG000151655 ( in ZAR )

31/05/2021 - Bond has expired

Prospectus brochure of the bond Absa Bank ZAG000151655 in ZAR 0%, expired

1 000 000 ZAR

50 000 000 ZAR

Absa Bank is a leading African financial services group offering a range of banking, wealth, and insurance solutions across various countries, primarily in Africa.

The Bond issued by AbsaBanque ( South Africa ) , in ZAR, with the ISIN code ZAG000151655, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Bond maturity is 31/05/2021

DocuSign Envelope ID: C68AEBC3-AF94-4A77-B84F-DEAB8C17C16E

AMENDED AND RESTATED APPLICABLE PRICING SUPPLEMENT

ABSA BANK LIMITED
(incorporated in the Republic of South Africa with limited liability with company registration
number 1986/004794/06)
Issue of ZAR 33,333,333.33 Credit Linked Notes due May 2021
under its ZAR40,000,000,000 Master Structured Note Programme approved by the JSE Limited t/a
The Johannesburg Stock Exchange

This amended and restated Applicable Pricing Supplement must be read in conjunction with
the Master Structured Note Programme Memorandum and the Applicable Product
Supplement for 2014 Credit Linked Notes, dated on or about 27 October 2015 and approved
by the JSE Limited on or about 30 October 2015, prepared by Absa Bank Limited in
connection with the Absa Bank Limited ZAR40,000,000,000 Master Structured Note
Programme, as amended and/or supplemented from time to time (the "Master Programme
Memorandum") and the Applicable Product Supplement, dated on or about 27 October
2015, as amended and/or supplemented from time to time (the "Applicable Product
Supplement").
Any capitalised terms not defined in this amended and restated Applicable Pricing
Supplement have the meanings ascribed to them in Section II-A of the Master Programme
Memorandum headed "Terms and Conditions of the Notes", as amended by the Applicable
Product Supplement.
This document constitutes the amended and restated Applicable Pricing Supplement (this
"Applicable Pricing Supplement") relating to the issue of Notes described herein. The Notes
described herein are issued on and subject to the Terms and Conditions as replaced,
amended and/or supplemented by the Applicable Product Supplement and/or this amended

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and restated Applicable Pricing Supplement. To the extent that there is any conflict or
inconsistency between the provisions of this amended and restated Applicable Pricing
Supplement and the provisions of the Master Programme Memorandum and/or the
Applicable Product Supplement, the provisions of this applicable or amended Applicable
Pricing Supplement will prevail for purposes of the Notes described herein.
This amended and restated Applicable Pricing Supplement supersedes any previous pricing
supplement, confirmation, term sheet or other communication with respect to the Notes
described herein.

DESCRIPTION OF THE NOTES
1.
Issuer
Absa Bank Limited ("Absa")
2.
Applicable Product Supplement:
The 2014 Credit Linked Note Applicable Product
Supplement contained in Section IV-B of the
Master Programme Memorandum is applicable
in respect of the Notes.
3.
Status of the Notes:
Unsubordinated and Unsecured.
4.
Listing:
Listed Notes
5.
Issuance Currency:
ZAR (South Africa Rand)
6.
Series Number:
2018-17
7.
Tranche Number:
ASN255
8.
Aggregate Nominal Amount:
ZAR33,333,333.33 (Thirty Three Million Three
Hundred and Thirty Three Thousand Three
Hundred and Thirty Three South African Rand
and Thirty Three South Africa Cents.)
(a)
Series:
Same as Paragraph 8 above.
(b)
Tranche:
Same as Paragraph 8 above.
9.
Reference Entity Nominal Amount:
Means an amount of the Notes expressed in ZAR
related to a Reference Entity in respect of which
a Relevant Event Determination Date has
occurred, calculated as follows:
Reference Entity Weighting of the relevant
Reference
Entity
multiplied
by
ZAR33,333,333.33.

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10.
Interest:
Interest-bearing
11.
Interest Payment Basis:
Floating Rate Notes
12.
Automatic/Optional Conversion from
Not Applicable
one Interest/Redemption/Payment
Basis to another:
13.
Form of Notes:
Registered Listed Notes: The Notes in this
Tranche wil be issued in uncertificated form and
held by the CSD.
14.
Issue Date:
29 May 2018
15.
Trade Date:
29 May 2018
16.
Specified Denomination:
ZAR1,000 000.00
17.
Issue Price:
100%
18.
Interest Commencement Date:
Issue Date
19.
Maturity Date:
29 May 2021
20.
Applicable Business Day Convention:
Fol owing Business Day Convention
21.
Definition of Business Day (if different
N/A
from that set out in Glossary of Terms):
22.
Final Redemption Amount:
Means:
(a) Subject to (b) below. The amount
determined by the Calculation Agent in its
sole and absolute discretion as the
Aggregate Nominal Amount of the Notes
outstanding (if any) at the Maturity Date;
and
(b) The Notes wil be redeemed on the
Maturity Date at the Final Redemption
Amount determined by the Calculation
Agent in accordance with (a) above
unless:
(i)
The Notes have been previously
redeemed in whole and cancelled
or are redeemable due to any
taxation reasons, due to Change
in Law, on an Event of Default (if
required) or optional early

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redemption (however described)
occurring on or before the
Maturity Date; or
(i )
Grace Period Extension is
Specified as applicable and a
Potential Failure to Pay has
occurred in respect of one or
more of the Reference Entities on
or prior to the Maturity Date. If
such Potential Failure to Pay has
occurred in respect of one or
more of the Reference Entities,
the Notes will be redeemed on the
first Business Day after expiry of
the relevant latest Notice Delivery
Period at its Final Redemption
Amount, unless on or before the
Grace Period Extension Date a
Credit Event occurs in respect of
one or more of the Reference
Entities which is a Failure to Pay
and the Conditions to Settlement
are fulfil ed during the Notice
Delivery
Period.
In
such
circumstances the Notes will be
redeemed by payment of final
outstanding Aggregate Nominal
Amount determined by the
Calculation Agent together with
Physical Settlement in respect of
any Reference Entities suffering a
Failure to Pay Credit Event after
the Maturity Date.
23.
Swap Costs:
The definition of "Swap Costs" in Condition
15.15 of the Credit Linked Conditions shal be
deleted and replaced with the following definition
for the purposes of the Notes:
"Swap Costs" means, in respect of the Notes, an
amount determined by the Calculation Agent in
a commercial y reasonable manner equal to any
expense, loss or costs (in which case expressed
as a positive number) or gain (in which case
expressed as a negative number) incurred (or
expected to be incurred) by or on behalf of the

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Issuer as a result of its terminating, liquidating,
modifying, obtaining or re-establishing any
hedge term deposit, related interest rate,
currency or basis swap position, or funding
arrangements entered into by it (including with
its internal treasury function) specifically in
connection with the Notes.
24.
Last Dates to Register:
The 11th calendar day before each Interest
Payment Date, i.e. each 18 August, 18
November, 18 February and 18 May of each
calendar year during the period commencing on
the Issue Date and ending on the Maturity Date.
25.
Books Closed Periods:
The Register will be closed for a period of 10
calendar days before each Interest Payment
Date to each Floating Interest Payment Date i.e.
from each 19 August to 29 August, 19
November to 29 November, 19 February to 28
February and from 19 May to 29 May (all dates
inclusive) in each calendar year during the term
of the Notes commencing on the Issue Date and
ending on the Maturity Date.
26.
Value of aggregate Nominal Amount of
all Notes issued under the Structured
ZAR 14,587,238,015.66
Note Programme as at the Issue Date:
FLOATING RATE NOTES

27.
(a)
Floating Interest Payment
Each 29 August, 29 November, 28 February and
Dates:
29 May of each calendar year, commencing on
29 August 2018 and ending on the Maturity
Date, each such day being subject to adjustment
in accordance with the Following Business Day
Convention.
(b)
Minimum Interest Rate:
Not Applicable
(c)
Maximum Interest Rate:
Not Applicable
(d)
Other terms relating to the
Day Count Fraction is Act/365(fixed).
method of calculating interest
The Calculation Agent wil calculate and
(e.g.: Day Count Fraction,
determine the Interest Amount payable in
rounding up provision):
respect of the Notes on each Interest Payment
Date by multiplying the Interest Rate (Reference
Rate plus Margin) by the outstanding Aggregate

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Nominal Amount of the Notes on the relevant
Interest Payment Date and multiplying such
amount by the Day Count Fraction and rounding
the resultant figure to the nearest cent, half a
cent being rounded downwards.
Provided that, if a Potential Failure to Pay has
occurred in respect of one or more of the
Reference Entities on or before an Interest
Payment Date, the outstanding Aggregate
Nominal Amount of the Notes on such Interest
Payment Date wil be determined by the
Calculation Agent without regard to the
Reference Entity Weighting of the Reference
Entity in respect of which the Potential Failure to
Pay has occurred. If no subsequent Failure to
Pay Credit Event occurs in respect of any such
Reference Entity prior to the next following
Interest Payment Date, the Calculation Agent wil
increase the Interest Amount on such Interest
Payment Date by the amount withheld on the
previous Interest Payment Date.
(e)
Manner in which the Interest
Screen Rate Determination
Rate is to be determined:
(f)
Margin:
150 basis points to be added to the relevant
Reference Rate
(h)
If Screen Determination:

(i)
Reference Rate
ZAR-JIBAR-SAFEX (3 months)
(including relevant
period by reference to
which the Interest Rate
is to be calculated):
(i )
Interest Rate
Each 29 August, 29 November, 28 February and
Determination Dates:
29 May of each calendar year, commencing on
the Issue Date and ending on 28 February 2021,
each such day being subject to adjustment in
accordance with the Fol owing Business Day
Convention.
(i i)
Relevant Screen Page
Reuters RIC <SFX3MYLD> on Reuters Page
and Reference Code:
"SAFEY" (Page number ZA01209)

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(i)
If Interest Rate to be calculated Not Applicable
otherwise than Screen
Determination, insert basis for
determining Interest
Rate/Margin/ Fal back
provisions:
(j)
Calculation Agent responsible
Absa Corporate and Investment Banking (a
for calculating amount of
division of Absa Bank Limited) or an affiliate
principal and interest:
thereof.
(k)
Interest Expiration Date:
If a Relevant Event Determination Date occurs
in respect of any one of the Reference Entities
during the Notice Delivery Period, interest will
cease to accrue in respect of an amount of the
Notes equal to the sum of the relevant
Reference Entity Nominal Amount and the Swap
Costs Difference, if any, in respect of Relevant
Event Determination Date and the relevant
Reference Entity, as of the earlier to occur of the
day prior to (a) the Interest Payment Date
occurring on or immediately preceding the
Relevant Event Determination Date and (b) the
Maturity Date or, if no Interest Payment Date
has occurred, the Issue Date, as applicable,
such date being the Interest Expiration Date.
CREDIT EVENT REDEMPTION

28.
Type of Credit Linked Note:
Portfolio CLN
29.
Redemption at Maturity:
Final Redemption Amount
30.
Relevant Credit Event:
Means the first Credit Event to occur with
respect to each Reference Entity.
31.
Redemption following the occurrence
Applicable. Partial redemption as described
of Credit Events:
herein.
If a Relevant Credit Event occurs during the
Notice Delivery Period in respect of one or more
of the Reference Entities specified in the
Reference Portfolio Annex, the Issuer's
obligation in each case will be to:
(i) redeem an amount of the Notes equal to the
Reference Entity Nominal Amount of such
Reference Entity(ies) by Delivery on the relevant

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Physical Settlement Date of the Deliverable
Obligations Portfolio (as defined below) related
to the relevant Reference Entity(ies), and
(i ) delist an amount of the Notes equal to the
sum of the Reference Entity Nominal Amount
and the Swap Costs Difference (if any) related
to the relevant Reference Entity(ies) in respect
of which a Relevant Credit Event has occurred.
At the Maturity Date, the Issuer wil redeem the
Notes remaining by payment of the Final
Redemption Amount determined on the basis of
the remaining outstanding Aggregate Nominal
Amount at the Maturity Date.
Upon discharge by the Issuer of the Final
Redemption Amount on the Maturity Date and
Physical Settlement on any Physical Settlement
Date or otherwise as provided herein, the
Issuer's obligations in respect of the Notes wil
be discharged.
The definition of "Deliverable Obligations
Portfolio" contained in Condition 23.2 of the
Credit Linked Conditions of the Notes is deemed
to be deleted and replaced with the following:
"Deliverable Obligations Portfolio" means,
subject to Credit Linked Condition 10.1, in
relation to each Reference Entity in respect of
which a Relevant Credit Event has occurred,
such Deliverable Obligations as may be
selected by the Issuer with a Due and Payable
Amount in an aggregate amount (excluding any
accrued and unpaid interest) equal to:
(a) the Reference Entity Nominal Amount
related to the relevant Reference Entity/s, as of
the Relevant Event Determination Date; less
(b) a Due and Payable Amount of such
Deliverable Obligations with a market value as
determined by the Calculation Agent equal to
the Settlement Expenses and Swap Costs.
If the amount of the Deliverable Obligations
Portfolio is a negative amount, no Deliverable
Obligations wil be required to be Delivered and
the amount of the Deliverable Obligations

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Portfolio will be deemed to be zero. In addition,
the Issuer wil , on or about the date the Issuer
delists the relevant amount of the Notes in
accordance with sub section (i ) of this
paragraph above, reduce the Aggregate
Nominal Amount of the Notes by an amount
equal to the absolute value of such negative
amount (such amount being the "Swap Costs
Difference"). If an obligation by its terms
represents or contemplates an obligation to pay
an amount greater than the outstanding principal
balance of such obligation as of the Delivery
Date as a result of the occurrence or non-
occurrence of an event or circumstance, the
outstanding principal balance of such obligation
will not include any additional amount that would
be payable upon the occurrence or non-
occurrence of such event or circumstance."
32.
Extension interest:
Not Applicable
33.
Reference Entities:
Each Reference Entity (read with the relevant
Reference Entity Weighting) as specified in the
Reference Portfolio Annex.
Each Reference Entity in respect of which a
Relevant Credit Event occurs will subsequently
be removed as a Reference Entity for the
purposes of the Notes.
34.
Reference Obligations:
In respect of each Reference Entity:
(i)
the obligation identified as per the
Reference Portfolio Annex or any
Substitute Reference Obligation in
respect thereof; and
(i )
one or more obligations of each such
Reference Entity that would constitute an
Obligation or Deliverable Obligation. The
Issuer may select the relevant Reference
Obligation of the relevant Reference
Entity at any time on or before the
Physical Settlement Date.
35.
Transaction Type:
Not Applicable
36.
Al Guarantees:
Applicable

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37.
Conditions to Settlement:
Applicable
Credit Event Notice: Applicable
Notice of Physical Settlement: Applicable
Notice of Publicly Available Information:
Applicable
Public Sources of Publicly Available
Information: Not Applicable
38.
Credit Events:
The following Credit Events apply:
Bankruptcy
Failure to Pay
Grace Period Extension: Applicable.
Payment Requirement:
ZAR1,000,000.00 or its equivalent in the
relevant Obligation Currency as of the
occurrence of the relevant Failure to Pay.
Restructuring
Default Requirement: ZAR10,000,000.00
or its equivalent in the relevant Obligation
Currency as of the occurrence of the
relevant Credit Event.
Obligation Acceleration
Obligation Default
Repudiation/Moratorium
Multiple Holder Obligation: Not Applicable
Governmental Intervention
39.
Credit Event Accrued Interest:
Not Applicable
40.
Obligations:
In respect of a Reference Entity, "Obligation"
means (i) the Reference Obligation of such
Reference Entity as set out in the Reference
Portfolio Annex, or (i ) any obligation of such
Reference Entity (either directly or as provider of
a Qualifying Affiliate Guarantee or, if Al
Guarantees is Specified as applicable, as
provider of any Qualifying Guarantee) described
by the:
Obligation Category:
Bond or Loan