Obbligazione Absa Bank 0% ( ZAG000168808 ) in ZAR

Absa Bank

100 ZAR ⇌

Sudafrica

ZAG000168808 ( in ZAR )

17/06/2021 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Absa Bank ZAG000168808 in ZAR 0%, scaduta

1 000 ZAR

250 000 000 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 ZAG000168808, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 17/06/2021

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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 250,000,000 Nedbank Bank Limited Credit-Linked Notes due June 2021
under its ZAR40,000,000,000 Master Structured Note Programme approved by the JSE
Limited t/a The Johannesburg Stock Exchange

This Applicable Pricing Supplement must be read in conjunction with the Master Structured Note
Programme Memorandum dated 7 November 2018 and registered with the JSE on or about 31 October
2018, 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.
With effect from the date on which this Applicable Pricing Supplement is signed, this Applicable Pricing
Supplement shall replace and supersede the any previous Applicable Pricing Supplement in all respects and
this Applicable Pricing Supplement shall constitute the only pricing supplement relating to the Notes of this
Tranche.
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 ("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 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 Memorandum and/or the Applicable Product Supplement, the provisions of this
Applicable Pricing Supplement will prevail for purposes of the Notes described herein.
This Applicable Pricing Supplement supersedes any previous pricing supplement, confirmation, term sheet
or other communication with respect to the Notes described herein.

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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The Holders of the Notes should ensure that: (i) they fully understand the nature of the Notes and the
extent of their exposure to risks, and (ii) they consider the suitability of the Notes as an investment in the
light of their own circumstances and financial position.
The Notes involve a high degree of risk, including the risk of losing some or a significant part of the
Noteholder's initial investment. A Noteholder should be prepared to sustain a total loss of its investment
in the Notes. The Notes represent general, unsecured, unsubordinated, contractual obligations of the
Issuer and rank pari passu in all respects with each other.
Noteholders are reminded that the Notes constitute obligations of the Issuer only and of no other person.
Therefore, potential Noteholders should understand that they are relying on the credit worthiness of the
Issuer.

DESCRIPTION OF THE NOTES
1.
Issuer:
Absa Bank Limited ("Absa")
2.
Applicable
Product 2014 Credit Linked Notes Applicable Product Supplement
Supplement:
contained in Section IV-B of the Master Programme
Memorandum.
3.
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.)
4.
Listing:
Listed Notes
5.
Issuance Currency:
ZAR (South African Rand)
6.
Series Number:
2020 40
7.
Tranche Number:
1
8.
Aggregate Nominal Amount:

(a)
Series:
ZAR 250,000,000 (Two Hundred and Fifty Million South African
Rand)
(b)
Tranche:
ZAR 250,000,000 (Two Hundred and Fifty Million South African
Rand)
9.
Interest:
Interest-bearing

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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10.
Interest Payment Basis:
Floating Rate Notes
11.
Automatic/Optional
Not Applicable
Conversion from one
Interest/Redemption/Payment
Basis to another:
12.
Form of Notes:
Registered Listed Notes: The Notes in this Tranche will be issued
in uncertificated form and held by the CSD.
13.
Issue Date:
17th June 2020
14.
Trade Date:
9th June 2020
15.
Specified Denomination:
ZAR1,000,000 per Note.
16.
Issue Price:
100%
17.
Interest Commencement Date
Issue Date
18.
Maturity Date:
17th June 2021
19.
Applicable
Business
Day Following Business Day Convention.
Convention:
20.
Business Days:
Johannesburg
21.
Final Redemption Amount:
ZAR 250,000,000 (Two Hundred and Fifty Million South African
Rand)
22.
Credit Event Backstop Date:
Not Applicable
23.
Last Date to Register:
11 calendar days before each Floating Interest Payment Date, i.e.
6th September, 6th December, 6th March and 6th June in each year
or if such day is not a business day then the close of business on
the business day immediately preceding the first day of a books
closed period during the period commencing on the Issue Date
and ending on the Maturity Date
24.
Books Closed Periods:
The Register will be closed from 10 calendar days before each
Floating Interest Payment Date i.e. from 7th September to 17th
September, 7th December to 17th December, 7th March to 17th
March and 7th June to 17th June in each year until the Maturity.

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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ZAR 23,921,040,221.30
25.
Value of aggregate Nominal
Amount of all Notes issued
under the Structured Note
Programme as at the Issue
Date:
FLOATING RATE LEG:

17th September, 17th December, 17th March and 17th June in each
26.
(a)
Floating
Interest year with the first Floating Interest Payment Date being 17th
Payment Dates:
September 2020 ending on the Maturity Date or, if such day is
not a Business Day, the Business Day on which interest will be
paid, as determined in accordance with the Applicable Business
Day Convention (as specified in this Applicable Pricing
Supplement).
(b)
Minimum
Interest Not Applicable
Rate:
(c)
Maximum
Interest Not Applicable
Rate:
(d)
Other terms relating
Day Count Fraction is Actual/365 (fixed)
to the method of
calculating interest
(e.g.: Day Count
Fraction, rounding up
provision):
(e)
Manner in which the
Screen Rate Determination
Interest Rate is to be
determined:
(f)
Margin:
110 basis points (or 1.10%) to be added to the relevant Reference
Rate
(h)
If
Screen
Determination:
(i)
Reference
ZAR-JIBAR-SAFEX (3 months)
Rate (including
relevant
period by
reference to

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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which the
Interest Rate is
to be
calculated):
(ii)
Interest Rate
The first Interest Determination Date will be the Issue Date i.e.
Determination the 17th June 2020, thereafter on 17th September, 17th December,
Dates:
17th March and 17th June in each calendar year, during the term
of the Notes, commencing on the Issue Date and ending on the
17th March 2021 or if such day is not a Business Day, the Business
Day on which interest will be paid, as determined in accordance
with the Applicable Business Day Convention.
(iii)
Relevant
Reuters RIC <SFX3MYLD> on Reuters Page "SAFEY" (Page number
Screen Page
ZA01209).
and Reference
Code:
(i)
If Interest Rate to be
Not Applicable
calculated otherwise
than Screen
Determination, insert
basis for determining
Interest Rate/Margin/
Fallback provisions:
(j)
Calculation Agent
Absa Corporate and Investment Banking (a division of Absa Bank
responsible for
Limited) or an affiliate thereof, acting in good faith and in a
calculating amount of
commercially reasonable manner.
principal and interest:
(k) Interest Period
Each period commencing on (and including) an Interest Payment
Date and ending on (but excluding) the following Interest
Payment Date; provided that the first Interest Period will
commence on (and include) the Interest Commencement Date
and end on (but exclude) the following Interest Payment Date
(each Interest Payment Date as adjusted in accordance with
Following Business Day Convention).
CREDIT EVENT REDEMPTION:

27.
Type of Credit Linked Note:
Single Name CLN

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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28.
Redemption at Maturity:
Final Redemption Amount
29.
Redemption following the
Applicable
occurrence of Credit Events:
30.
Extension interest:
Not Applicable
31.
Reference Entity:
Nedbank Limited
The financial statements of the Reference Entity are available at::
32.
Financial Statements of the
Reference Entity:
https://nedbank.co.za/content/nedbank/desktop/gt/en/investor-
relations/information-hub/financial-results/2019.html
33.
Standard Reference
Not Applicable
Obligation:
34.
Reference Obligation:
The obligation identified as follows:
Primary Obligor: Nedbank Limited
Maturity: 25/06/2021
CUSIP/ISIN: ZAG000117110
35.
Transaction Type:
Not Applicable
36.
All Guarantees:
Applicable
37.
Conditions to Settlement:
Applicable
Credit Event Notice: Applicable
Notice of Publicly Available Information: Applicable
38.
Credit Events:
The following Credit Events apply:
Bankruptcy
Failure to Pay
Grace Period Extension: Applicable
Grace Period: 30 calendar days
Payment Requirement: ZAR10,000,000
Repudiation/Moratorium
Restructuring

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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Mod R: Not Applicable
Mod Mod R: Not Applicable
Multiple Holder Obligation: Applicable
Default Requirement: ZAR10,000,000
39.
Credit Event Accrued Interest:
Not Applicable
40.
Obligations:
Obligation Category: Borrowed Money
Obligation Characteristics: Not Subordinated
Specified Currency: ZAR
41.
Excluded Obligations:
Not Domestic Currency and Not Domestic Law
42.
Issuer CLN Settlement Option:
Not Applicable
43.
CLN Settlement Method:
Cash Settlement
Terms Relating to Cash
Settlement:
Credit Event Redemption As specified in the 2014 Credit Linked Conditions.
Amount:
Credit Event Redemption 5 (five) Business Days
Date:
CLN Valuation Date:
Single CLN Valuation Date. The CLN Valuation Date will be
determined by the Calculation Agent in its sole discretion
provided that such CLN Valuation Date is not more than 100 (one
hundred) Business Days following date determined by the Issuer
in terms of the provisions relating to the Event Determination
Date specified in the 2014 Credit Linked Conditions, provided
that the Settlement Suspension provisions specified in the 2014
Credit Linked Conditions will apply to such time limit.
CLN Valuation Time:
As specified in the 2014 Credit Linked Conditions.
Quotation Method:
Bid
Quotation Amount:
As specified in the 2014 Credit Linked Conditions.

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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Minimum
Quotation As specified in the 2014 Credit Linked Conditions.
Amount:
Valuation Method:
Highest
Accrued Interest:
Quotations Exclude Accrued Interest
Dealers:
As specified in the 2014 Credit Linked Conditions. Such Dealers
may include South African and/or non-South African Dealers

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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Other Provisions:
Subparagraphs 20.10.3 and 20.10.4 in the definition of
"Quotation" in the 2014 Credit Linked Notes Applicable Product
Supplement contained in Section IV-B of the Master Programme
Memorandum will be deemed to be deleted hereby and replaced
with the following:
"If the Calculation Agent is unable to obtain at least two (2) Full
Quotations or a Weighted Average Quotation on the same
Business Day on or prior to the tenth (10th) Business Day
following the applicable CLN Valuation Date, the Quotation will
be calculated by the Issuer on the eleventh (11th) Business Day by
obtaining at least 5 (five) Indicative Quotations on that Business
Day and the arithmetic mean of such Indicative Quotations,
disregarding the Indicative Quotation having the highest and
lowest values, will constitute the Quotation, failing which the
Quotation will be equal to be zero".
Where:
"Indicative Quotation" means, in accordance with the Quotation
Method, each quotation obtained from a Dealer at the Valuation
Time for (to the extent reasonably practicable) an amount of the
relevant Obligation equal to the Quotation Amount, which reflects
such Dealer's reasonable assessment of the price of such
Obligation based on such factors as the Dealer may consider
relevant, which may include historical prices and recovery rates".
Fallback CLN Settlement Method
There is no other fallback settlement method other than Cash
Settlement
PROVISIONS REGARDING

REDEMPTION / MATURITY
44.
Redemption at the option of
No
the Issuer:
45.
Redemption at the Option of
No
Noteholders:
46.
Early Redemption Amount(s)
Yes
payable on redemption for
taxation reasons, Change in

DocuSign Envelope ID: E94C2303-9DB8-4B5E-B0C1-6B78DC7AD2A3

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Law or on Event of Default (if
required):
If yes:

(a)
Amount payable; or
The Early Redemption Amount determined and calculated by the
Calculation Agent in accordance with Condition 8.5 of the Terms
and Conditions of the Notes.
(b)
Method of calculation
Not Applicable
of amount payable:
GENERAL

47.
Financial Exchange:
JSE Limited t/a The Johannesburg Stock Exchange
48.
Calculation & Paying Agent
Absa Corporate and Investment Banking (a division of Absa Bank
Limited) or an affiliate thereof.
49.
Calculation Agent City:
Johannesburg
50.
Specified office of the
15 Alice Lane
Calculation & Paying Agent:
Sandton
2196
Gauteng
Republic of South Africa
51.
Settlement Agent:
Standard Chartered Bank
52.
Specified office of the
4 Sandown Valley Crescent, Sandton, South Africa
Settlement Agent:
53.
Additional selling restrictions:
Not Applicable
54.
ISIN No.:
ZAG000168808
55.
Stock Code:
ASN445
56.
Method of distribution:
Private Placement
57.
If syndicated, names of
Not Applicable
Managers: