Standard Bank Lists SBC047 Floating Rate Notes on JSE

The Standard Bank of South Africa Limited has successfully secured a new listing on the Johannesburg Stock Exchange (JSE) for its latest financial instrument, the ‘SBC047’ Floating Rate Listed Notes.

Under the bank’s Structured Note Programme, the JSE has approved the listing for these notes, marking a significant development in the financial market.

The notes, with the stock code SBC047 and ISIN code ZAG000206442, have a total issued value of approximately ZAR 90.9 billion, contributing to the bank’s ZAR 120 billion Authorized Programme size.

Commencing on 26 June 2024, the notes boast a unique coupon rate tied to the Three month ZAR-JIBAR-SAFEX plus 1.69%, indicating a floating rate structure.

Interest payments for the notes will be determined on each 31 March, 30 June, 30 September, and 31 December of each year, starting from the issue date until the maturity date in 2032.

Investors interested in these notes can rely on The Standard Bank of South Africa Limited as the placement agent for the issuance, ensuring a secure and compliant transaction process.

These notes are subject to specific terms and conditions outlined in the Pricing Supplement, emphasizing the importance of thorough due diligence for potential investors.

Settlements for the notes will be handled electronically in accordance with JSE Rules, providing convenience and efficiency for investors engaging in the secondary market for these instruments.