ABSA BANK LIMITED – ASN322 – Tap Issuance

2019/07/11 16:53:00
SENS announcement for JSE listed company: ABSP

ASN322 201907110047A
ASN322 – Tap Issuance

(Registration number 1986/004794/06)


The JSE Limited has granted a additional financial instrument listing to ABSA BANK LIMITED ‘ASN322 notes’ under
its Master Structured Note Programme Memorandum.

Full Note details are as follows:

Index Equity-Linked Basket
Listing Date 12 July 2019
Additional Listing 490
Total Issue Size after additional listing 25,690
Issue Price (ZAR) 1,000
Maturity Date 30 April 2024
JSE Long Code ABMBSN322-30April2024
JSE Short Code ABMBSN322
JSE Alpha Code ASN322
ISIN ZAE000271078
Sector Specialised Securities
Sub – Sector Investment Products

Other provisions

Condition 9 titled ‘Taxation’ in the section II-A of the Master Programme Memorandum titled ‘Terms and
Conditions of the Notes’ is amended in relation to this Tranche of Notes by (i) the replacement of the words
after the dash in Condition 9.3 with the words ‘provided that this exception shall 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 circumstances where such party could lawfully reduce the
amount of taxation otherwise levied or leviable upon the principal or interest by virtue of any tax treaty
or non-South African tax laws applicable to such Noteholder, whether by way of a tax credit, rebate
deduction or reduction equal to all or part of the amount withheld or otherwise, and whether or not it is
actually claimed and/or granted and/or allowed; or

9.10 in respect of any present or future taxes, duties, assessments or governmental charges of whatever
nature which are payable otherwise than by withholding from payment of principal or interest, if any,
with respect to such Note; or
9.11 where any combination of the scenarios or occurrences contemplated in Conditions 9.1 to 9.10 above
occurs the Issuer is not liable for or otherwise obliged to pay any taxes that may arise as a result of the
ownership, transfer or redemption of any Note.

If the Issuer becomes subject generally at any time to any taxing jurisdiction, authority or agency other than or
in addition to the Republic South Africa, references in Conditions 8.2 (Redemption for Tax Reasons or due to
a Change in Law) and 9 (Taxation) to South Africa shall be read and construed as references to South Africa
and/or to such other jurisdiction, authority or agency.’

Inward Listing. The Notes will be inward listed securities listed on the Financial Exchange in terms of the
authority granted by the Financial Surveillance Department of the South African Reserve Bank.

11 July 2019

Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 11/07/2019 04:53:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
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