The Standard Bank of South Africa Limited announced the listing of a new financial instrument, "CLN972", on the Johannesburg Stock Exchange (JSE) today. The bank, which also sponsors the listing, has been granted permission by the JSE to list the CLN972 Senior Unsecured Floating Rate Notes due on January 31, 2030, under its Structured Note Programme.
The authorized programme size is ZAR120,000,000,000 with total notes issued, including the current issue, amounting to ZAR76,958,850,841.52. The nominal issued for this particular listing is ZAR55,000,000.00. The issue date is set for tomorrow, Thursday.
The CLN972 notes feature a floating coupon rate. For each interest period from the issue date until October 31, 2026, the rate will be three-month ZAR-JIBAR-SAFEX plus 2.00%. From October 31, 2026 until the scheduled maturity date, the rate will increase slightly to three-month ZAR-JIBAR-SAFEX plus 2.09%.
Interest determination dates are set for January 31, April 30, July 31 and October 31 of each year starting from the issue date. The first interest payment date is planned for October 31 this year.
Investors can register until 17:00 on January 25, April 24, July 25 and October 25 each year until the maturity date. The last day to register falls on a business day before each books closed period until the maturity date. The Standard Bank of South Africa Limited also acts as the placement agent for these notes.
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