Obbligazione Absa Bank 0% ( ZAG000139676 ) in ZAR

Emittente Absa Bank
Prezzo di mercato 100 ZAR  ▲ 
Paese  Sudafrica
Codice isin  ZAG000139676 ( in ZAR )
Tasso d'interesse 0%
Scadenza 20/06/2021 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Absa Bank ZAG000139676 in ZAR 0%, scaduta


Importo minimo 1 000 000 ZAR
Importo totale 250 000 000 ZAR
Descrizione dettagliata The Obbligazione issued by Absa Bank ( South Africa ) , in ZAR, with the ISIN code ZAG000139676, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 20/06/2021







DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

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 ZAR250,000,000.00 Series 6 Credit Linked Notes due June 2021
under its ZAR40,000,000,000 Master Structured Note Programme approved by the JSE Limited
and the Stock Exchange of Mauritius Limited
This Applicable Pricing Supplement must be read in conjunction with the Master Programme
Memorandum and the Applicable Product Supplement for 2014 Credit Linked Notes, all dated on or
about 27 October 2015 and approved by the JSE Limited on or about 9 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 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 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
Applicable Pricing Supplement. To the extent that there is any conflict or inconsistency between the
provisions of this Applicable Pricing Supplement and the provisions of the Master Programme

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

2
Memorandum and/or the Applicable Product Supplement, the provisions of this Applicable Pricing
Supplement will prevail for purposes of these Notes.
This Applicable Pricing Supplement supersedes any previous pricing supplement, confirmation, term
sheet or other communication with respect to the Notes referred to below.



978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

3
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. (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.)
4.
Listing
Listed Notes
5.
Issuance Currency
ZAR (South Africa Rand)
6.
Series Number
2016-51
7.
Tranche Number
ASN165
8.
Aggregate Nominal Amount:
ZAR250,000,000.00 Subject to the occurrence
of one or more Relevant Event Determination
Dates in respect of any of the Reference
Entities during the Notice Delivery Period,
whereupon the Aggregate Nominal Amount wil
be reduced to reflect the redemption (as
described in paragraph 31 (Redemption
following the occurrence of Credit Events)
below) of such amount of the Notes equal to the
sum of the Reference Entity Nominal Amounts
in respect of each Reference Entity in respect of
which a Relevant Event Determination Date has
occurred, less the Swap Costs Difference (if any
and as defined in paragraph 23 below)), as
determined by the Calculation Agent in its sole
and absolute discretion.
(a)
Series
ZAR250,000,000.00
(b)
Tranche
ZAR250,000,000.00
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

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

4
occurred, calculated as follows:
Reference Entity Weighting of the relevant
Reference
Entity
multiplied
by
ZAR250,000,000.00.
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 will be issued in uncertificated form
and held by the CSD.
14.
Issue Date
29 September 2016
15.
Trade Date
22 September 2016
16.
Specified Denomination
ZAR 1,000.00
17.
Issue Price
100%
18.
Interest Commencement Date
Issue Date
19.
Maturity Date
20 June 2021
20.
Applicable Business Day Convention
Fol owing Business Day Convention
21.
Definition of Business Day (if different
Not Applicable
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

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

5
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
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 wil 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:

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

6
"Swap Costs" means, in respect of the Notes,
an amount determined by the Calculation
Agent in a commercially 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 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 Date to Register
11 calendar days before each Interest Payment
Date, i.e. each 9 March, 9 June, 9 September
and 9 December of each calendar year during
the period commencing on the Issue Date and
ending on the Maturity Date.
25.
Books Closed Period(s)
The Register will be closed from 10 calendar
days before each Interest Payment Date to
each Floating Interest Payment Date i.e. from
10 June to 20 June, 10 September to
20 September, 10 December to 20 December
and from 10 March to 20 March (all dates
inclusive) in each calendar year during the
period commencing on the Issue Date and
ending on the Maturity Date.
26.
Value of aggregate Nominal Amount of
all Notes issued under the Structured
ZAR12,907,910,048.96
Note Programme as at the Issue Date
FLOATING RATE NOTES

27.
(a)
Floating Interest Payment
The 20 March, 20 June, 20 September and
Date(s)
20 December
in
each
calendar
year,
commencing on 20 December 2016 and ending
on the Maturity Date, each such day being
subject to adjustment in accordance with the
Fol owing Business Day Convention.
(b)
Minimum Interest Rate
Not Applicable

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

7
(c)
Maximum Interest Rate
Not Applicable
(d)
Other terms relating to the
Day Count Fraction is Act/365.
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
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
260 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 20 of March, June, September and

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

8
Determination Date(s)
December of each calendar year, commencing
on the Issue Date and ending on 20 March
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)
(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 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 Reference Entity
Nominal Amount and the Swap Costs
Difference, if any, in respect of Relevant Event
Determination Date and 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.

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

9
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 shal be to:
(i) redeem an amount of the Notes equal to the
Reference Entity Nominal Amount of such
Reference Entity/s by Delivery on the relevant
Physical Settlement Date of the Deliverable
Obligations Portfolio (as defined below) related
to the relevant Reference Entity/s, 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/s in respect of
which a Relevant Credit Event has occurred.
At the Maturity Date, the Issuer shal 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 shal be discharged.
The definition of "Deliverable Obligations
Portfolio" contained in Condition 23.2 of the
Credit Linked Conditions of the Notes shal 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

978332v1


DocuSign Envelope ID: 5296657A-8F69-4DA0-80EB-4D6D97BC831A

10
(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
Portfolio will be deemed to be zero, In addition,
the Issuer shal , 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 shal 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 and 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 Obligation(s)
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

978332v1


Document Outline