Obbligazione Absa Bank 0% ( ZAG000139114 ) in ZAR

Absa Bank

100 ZAR ⇌

Sudafrica

ZAG000139114 ( in ZAR )

29/08/2021 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Absa Bank ZAG000139114 in ZAR 0%, scaduta

1 000 000 ZAR

109 026 000 ZAR

Absa Bank è una grande istituzione finanziaria africana con sede in Sudafrica, operante in diversi paesi del continente e offrendo una gamma completa di servizi bancari commerciali e di investimento.

The Obbligazione issued by Absa Bank ( South Africa ) , in ZAR, with the ISIN code ZAG000139114, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 29/08/2021

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

APPLICABLE PRICING SUPPLEMENT

ABSA BANK LIMITED
(incorporated in the Republic of South Africa with limited liability and with company registration
number: 1986/004794/06)

Issue of ZAR109,026,000.00 Unsubordinated and Unsecured Registered Notes due August 2021
under its ZAR40,000,000,000 Master Structured Note Programme approved by the JSE Limited

This Applicable Pricing Supplement must be read in conjunction with the Master Structured Note
Programme Memorandum dated 27 October 2015 and approved by the JSE Limited t/a The
Johannesburg Stock Exchange on or about 30 October 2015, as amended and/or supplemented from
time to time (the "Master Programme Memorandum"), prepared by Absa Bank Limited in
connection with the Absa Bank Limited ZAR40,000,000,000 Master Structured Note Programme.
Any capitalised terms not defined in this Applicable Pricing Supplement have the meanings ascribed
to them in Schedule 1 (Glossary of Terms) to Section II-A (Terms and Conditions of the Notes) of the
Master Programme Memorandum.
This document constitutes an Applicable Pricing Supplement relating to the Notes described herein
and to be issued by the Issuer. The Notes described herein are subject to the Terms and Conditions
of the Notes, as replaced, amended and/or supplemented by this Applicable Pricing Supplement. To
the extent that there is any conflict or inconsistency between the provisions of this Applicable

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

2
Pricing Supplement and the provisions of the Master Programme Memorandum, the provisions of
this Applicable Pricing Supplement will prevail for purposes of the Notes which are governed by it.
This Applicable Pricing Supplement supersedes any previous term sheet, pricing supplement,
confirmation, or other communication in respect of the Notes described below.

DESCRIPTION OF THE NOTES

1.
Issuer:
Absa Bank Limited ("Absa")
2.
Status of Notes:
Unsubordinated and Unsecured. (The default status of the
Notes under the Master Structured Note Programme is
`unsubordinated and unsecured' per Condition 5 (Status
of Notes) of the Master Programme Memorandum.)
3.
Listing:
Listed
4.
Issuance Currency:
ZAR (South African Rand)
5.
Series Number:
2016-49
6.
Tranche Number:
ASN163
7.
Aggregate Nominal Amount:

(a)
Series:
ZAR109,026,000.00
(b)
Tranche:
ZAR109,026,000.00
8.
Interest:
As set out in paragraph 25 and 26 below respectively.
9.
Interest Payment Basis:
Fixed Rate and Index Linked
10.
Automatic/Optional Conversion Not Applicable
from one
Interest/Redemption/Payment
Basis to another:
11.
Form of Notes:
Registered Listed Notes: The Notes in this Tranche are
issued in uncertificated form and lodged in the Central
Securities Depository.
12.
Issue Date:
01 September 2016
13.
Trade Date:
22 August 2016

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

3
14.
Specified Denomination:
ZAR1,000.00 per Note - the provision reading "Notes will
not be offered for subscription to any single addressee for
an amount of less than R1,000,000" appearing under the
"Selling Restrictions" for the republic of South Africa in
"Section II-D: Subscription and Sale" of the Master
Programme Memorandum will be disapplied and deemed
to be amended for purposes of these Notes.
15.
Issue Price:
100%
16.
Interest Commencement Date:
Not Applicable
17.
Maturity Date:
29 August 2021, is the scheduled Maturity Date, subject
to such day being an Exchange Business Day (as defined in
paragraph 26(b) below) and a Business Day. If such day is
not an Exchange Business Day and a Business Day, then
the Maturity Date will be the next day which is an
Exchange Business Day and a Business Day.
18.
Applicable Business Day
Modified Following Business Day Convention
Convention:
19.
Definition of Business Day (if
Not different for Business Days. However, for purposes of
different from that set out in
this Applicable Pricing Supplement the term "Currency
the Glossary of Terms):
Business Day" include Johannesburg Business Days,
London Business Days and TARGET Settlement Days,
where TARGET Settlement Day means any day on which
the Trans-European Automated Real-time Gross
settlement Express Transfer system is open.
20.
Fixed Interim Amount:
See Fixed Rate Leg provisions in paragraph 25 below.
21.
Final Redemption Amount:
See Index-Linked Notes provisions in paragraph 26 below.
22.
Last Date to Register:
18 August 2021
23.
Books Closed Period(s):
The Register will be closed from 19 August 2021 until the
Maturity Date.
24.
Value of aggregate Nominal
ZAR13,889,067,048.96
Amount of all Notes issued
under the Structured Note
Programme as at the Issue
Date:
MIXED RATE NOTES:

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

4
FIXED RATE LEG:

25.
(a)
Fixed Interim Amout:
The amount determined and calculated by the Issuer in
accordance with the provisions of paragraph 25(b) below,
and payable by the Issuer to the Note Holders on the
Fixed Interim Amount Payment Date.
(b)
Formula by reference
The Issuer will determine and calculate the Fixed Interim
to which the Fixed
Amount by using the following formula:
Interim Amount is to be FIA=ANA*0.5*1.405
determined and
calculated:
Where:
"FIA" means the Fixed Interim Amount;
"ANA" means the Aggregate Nominal Amount; and
"*" means "multiplied by".
(c)
Fixed Interim Amount
The Fixed Interim Amount as determined and calculated
Payment Date:
above will be payable by the Issuer to the Note Holders on
29 August 2019, such date being subject to adjustment in
accordance with the Modified Following Business Day
Convention.
INDEX-LINKED LEG

26.
(a)
Type of Index-Linked
Indexed Redemption Amount
Leg:

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

5
(b)
Formula by reference
The Issuer will determine and calculate the Final
to which payment
Redemption Amount by using the following formula:
amount in respect of
FRA=ANA*0.5 + [ANA*0.5*P*max(BR,0)]
the Index-Linked Leg is
to be determined:
Where:
"FRA" means the Final Redemption Amount;
"ANA" means the Aggregate Nominal Amount;
"P" means "participation" which is 1.00;
"BR" means the "Basket Return" which is determined and
calculated in accordance with the following formula:
BR = 2 0.5 × (Asset, - 1)
i=1

Asset,0
where:
Asseti,0 means, in respect of each of the Indices
comprising the basket of Indices, the official closing level
of the relevant Index, as determined by the Issuer, on the
Trade Date which is: (i) 2,960.37 in the case of the Euro
Stoxx 50 ® Index, and (ii) 2,182.64 in the case of the S&P
500 Index.
"Asseti,f" means, in respect of each Index contained in the
basket of Indices, the "final Index level" determined by
the Issuer as the equally weighted average of the official
closing levels of the relevant Index, as determined by the
Issuer, on each of the following averaging dates:
24/08/2020; 22/09/2020; 22/10/2020; 23/11/2020;
22/12/2020; 22/01/2021; 22/02/2021; 22/03/2021;
22/04/2021; 24/05/2021; 22/06/2021; 22/07/2021;
23/08/2021.

each such averaging date being subject to adjustment in
accordance with the Modified Postponement provisions
set out below.
"Modified Postponement" means that where the official
closing level of an Index is not available on an any relevant
day for any reason, the Issuer, acting in good faith and in a
commercially reasonable manner, will determine the
closing level of such Index by inter alia reference to any
determination made by the Issuer's hedging counterparty
in respect of any local or global hedge position in
connection with this leg of the Note that the Issuer may
have entered into or, if that cannot be obtained, the

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

6
official closing level available on any following or
preceding day, as applicable, which the Issuer determines
to be commercially reasonable under the relevant
circumstances.
For the purposes of the above:
"Exchange Business Day" means a Scheduled Trading Day
on which: (i) the relevant Index Sponsor publishes the
closing level of the relevant Index; and (ii) the Related
Listing Financial Exchange or an Index Component
Exchange, as the case may be, is open for trading during
its regular trading session, notwithstanding the Related
Listing Financial Exchange and/or any Index Component
Exchange, as the case may be, closing prior to its
Scheduled Closing Time;
"basket" means for purposes of the "basket of Indices" an
equally weighted basket (i.e. 50% of each) of (i) the S&P
500 Index (Bloomberg Ticker: SPX Index) (Index1), and (ii)
the EURO STOXX 50® Index (Bloomberg Ticker: SX5E
Index) (Index2). The weighting (i.e. 50% in respect of each
Index) is set upfront and does not change over the term of
the Notes regardless of the return of the Indices
comprising the basket.
Index websites:
For SPX 500 Index:
http://us.spindices.com/documents/methodologies/meth
odology-sp-us-indices.pdf
For EURO STOXX 50® Index:
http://www.stoxx.com/download/indices/rulebooks/stox
x_indexguide.pdf
"Index Valuation Date" means, in respect of each Index,
23 August 2021, subject to such day not being a Disrupted
Day. If such day is a Disrupted Day, the Index Valuation
Date will be determined in accordance with the provisions
of "Consequences of a Disrupted Day" specified below. If
the Index Valuation Date is adjusted in accordance with
the provisions of "Consequences of a Disrupted Day", the
scheduled Maturity Date (specified above) will be
adjusted to be the 5th (fifth) day following the adjusted
Index Valaution Date, provided that such day is both an
Exchange Business Day and a Business Day;

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

7
"Index Valuation Time" means:
I.
for the purposes of determining whether a Market
Disruption Event has occurred in respect of any
Component Security or any options contracts or
future contracts on an Index, the Scheduled Closing
Time on the Listing Financial Exchange in respect of
such Component Security or such options contracts
or future contracts on the relevant Index, as the case
may be; and
II.
in all other circumstances, the time at which the
official closing level of the relevant Index is
calculated and published;
"Listing Financial Exchange" means in respect of an Index,
all such exchanges relevant to such Index as determined
by the Issuer;
"Scheduled Closing Time" means, in respect of an Index
Component Exchange and a Scheduled Trading Day, the
scheduled weekday closing time of such Index Component
Exchange on such Scheduled Trading Day, without regard
to after hours or any other trading outside of the regular
trading session hours;
"Index Component Exchange" means in respect of each
component security of an Index (each, a "Component
Security"), the principal stock exchange or quotation
system or any substitute exchange or quotation system on
which such Component Security is principally traded, as
determined by the Issuer;
"Scheduled Trading Day" means, in respect of an Index,
any day on which: (i) the Index Sponsor is scheduled to
publish the level of the Index; and (ii) the Listing Financial
Exchange or an Index Component Exchange, as the case
may be, is scheduled to be open for trading during its
regular trading session;
"Index Sponsor" means, in respect of an Index, the
corporation or other entity that (a) is responsible for
setting and reviewing the rules and procedures and the
methods of calculation and adjustments, if any, related to
the relevant Index and (b) announces (directly or through
an agent) the level of the relevant Index on a regular basis
during each Scheduled Trading Day;
(c)
Final Redemption
The Maturity Date, such date being subject to adjustment
in accordance with the Modified Following Business Day

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

8
Amount Payment Date: Convention and the provisions regarding Consequences of
a Disrupted Day as specified above.
(d)
Index Calculation
In respect of the SPX 500 Index, S&P Dow Jones is the
Agents:
Index Calculation Agent.
In respect of the Euro Stoxx 50® Index, STOXX Limited,
Zurich, Switzerland and/or its licensors are the Index
Calculation Agent.
(e)
Provisions where
See the relevant provisions under paragraph 40 below.
calculation by
reference to Index
and/or Formula is
impossible or
impracticable:
(f)
Minimum Interest
Not Applicable
Rate:
(g)
Maximum Interest
Not Applicable
Rate:
(h)
Other terms relating to
Not Applicable
the method of
calculating interest
(e.g.: Day Count
Fraction, rounding up
provision):
(i)
Calculation Agent:
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

9
PROVISIONS REGARDING

REDEMPTION/MATURITY
27.
Redemption at the option of
No
the Issuer:
28.
Redemption at the Option of
No
Noteholders:
29.
Early Redemption Amount(s)
Yes
payable on redemption for
taxation reasons, Change in
Law, Hedging Disruption,
Increased Cost of Hedging or on
Event of Default (if required):
If yes:

(a)
Amount payable; or
Not Applicable
(b)
Method of calculation
If the Notes are redeemed early for any reason
of amount payable:
whatsoever, the Early Redemption Amount will be
determined and calculated by the Issuer in accordance
with Condition 8.5 (Early Redemption Amounts) of the
Terms and Conditions of the Notes.
GENERAL

30.
Financial Exchange:
JSE Limited t/a The Johannesburg Stock Exchange
31.
Calculation Agent:
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.
32.
Paying Agent
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.
33.
Specified office of the Paying
15 Alice Lane
Agent:
Sandton
2196
Gauteng
Republic of South Africa
34.
Transfer Agent:
Absa Corporate and Investment Banking (a division of
Absa Bank Limited) or an affiliate thereof.
35.
ISIN No.:
ZAG000139114

DocuSign Envelope ID: D1274900-2201-4520-8D67-278354F12D3D
DocuSign Envelope ID: 917C4A5F-5EFD-4F65-AC88-3CA54CE22E6D

10
36.
Issuer Rating on Issue Date:
Issuer Rating: A1.za as assigned by Moody's on 10 March
2016 and to be reviewed by Moody's from time to time.
Issuer Rating: zaAA- as assigned by Standard & Poor on 09
March 2016 and to be reviewed by Standard & Poor from
time to time.
37.
Stock Code:
ASN163
38.
Method of distribution:
Private Placement
39.
Governing law:
The law of the Republic of South Africa
40.
Other provisions:
Applicable
(a) Inward Listing:
The Notes will be inward listed on the Financial Exchange
in terms of the authority granted by the Financial
Surveillance Department of the South African Reserve
Bank.
(b) Taxation:
Condition 9 titled "Taxation" in the section II-A of the
Master Programme Memorandum titled "Terms and
Conditions of the Notes" is deemed to be amended in
relation to this Tranche of Notes by:
(i) the replacement of the words after the dash in
Condition 9.3 with the phrase "provided that this
exception will only apply to that portion of the
withholding or deduction which could lawfully have
been so reduced",
(ii) the deletion of Condition 9.8, and
(iii) the insertion of the following additional paragraphs
immediately after Condition 9.7:
"9.8 where such withholding or deduction is imposed
on a payment to an individual and is required to be made
pursuant to European Council Directive 2003/48/EC (or
any other directive implementing the conclusions of the
2312th Economic and Financial Affairs Council (ECOFIN)
meeting of 26 and 27 November 2000) on the taxation of
savings income or any law implementing or complying
with, or introduced in order to conform to, such directive;
or
9.9 held by or on behalf of a Noteholder in