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FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
Issuer code: FRII
LEI: ZAYQDKTCATIXF9OQY690
Bond code: FRC346 ISIN: ZAG000171430
Bond code: FRC381 ISIN: ZAG000181272
Bond code: FRC402 ISIN: ZAG000185877
Bond code: FRC416 ISIN: ZAG000187337
Bond code: FRC481 ISIN: ZAG000198623
Bond code: FRC489 ISIN: ZAG000199969
(FRB)
NOTIFICATION OF A WRITE-DOWN OF NOTES DUE TO A CREDIT EVENT CALLED BY FRB
Noteholders are referred to the SENS announcement released on 20 November 2024 whereby FRB notified noteholders of a
credit event on the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 notes, which referenced Intrum AB as a
constituent of the underlying reference index, the Markit iTraxx® Europe Crossover Index as set out in paragraph 93(e) of the
applicable pricing supplement for each affected note.
FRB hereby gives notice to the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 noteholders, in accordance with
the terms and conditions of the R60 000 000 000 note programme dated 29 November 2011, as amended or supplemented
from time to time, of the write-down applicable in accordance with paragraph 51(D) of the FRC346, FRC381, FRC402,
FRC416, FRC481 and FRC489 pricing supplements, with the effective/pay date being Friday, 24 January 2025.
Bond code: FRC346
ISIN: ZAG000171430
Amount before write-down: R48 666 000.00
Write-down amount: R666 500.00
Amount after write-down: R47 999 500.00
Bond code: FRC381
ISIN: ZAG000181272
Amount before write-down: R147 999 000.00
Write-down amount: R1 999 500.00
Amount after write-down: R145 999 500.00
Bond code: FRC402
ISIN: ZAG000185877
Amount before write-down: R147 999 000.00
Write-down amount: R1 999 500.00
Amount after write-down: R145 999 500.00
Bond code: FRC416
ISIN: ZAG000187337
Amount before write-down: R147 999 000.00
Write-down amount: R1 999 500.00
Amount after write-down: R145 999 500.00
Bond code: FRC481
ISIN: ZAG000198623
Amount before write-down: R98 666 000.00
Write-down amount: R1 333 000.00
Amount after write-down: R97 333 000.00
Bond code: FRC489
ISIN: ZAG000199969
Amount before write-down: R49 333 000.00
Write-down amount: R666 500.00
Amount after write-down: R48 666 500.00
The portion of the FRC346, FRC381, FRC402, FRC416, FRC481 and FRC489 notes impacted by the credit event will be
cash settled through Strate Proprietary Limited (STRATE), with the amount of cash due being:
Bond code: FRC346
Cash amount: R487 529.43^
Bond code: FRC381
Cash amount: R1 521 014.53^
Bond code: FRC402
Cash amount: R1 529 157.17^
Bond code: FRC416
Cash amount: R1 564 486.14^
Bond code: FRC481
Cash amount: R998 480.67^
Bond code: FRC489
Cash amount: R503 006.58^
^For these notes, the cash amount will be settled through STRATE.
The record date in respect of the credit event will be Thursday, 23 January 2025.
The pricing supplements will be amended as follows:
1. to remove the above-mentioned entity and update the weightings in Annexure 2 in each pricing supplement;
2. the aggregate nominal amount in paragraph 7(a) in each of the pricing supplements will be amended to the above-
mentioned amounts after the write-down; and
3. the number of notes in paragraph 9 of the pricing supplements will be amended to cater for the above-mentioned
write-downs.
The amended pricing supplements will be available at:
https://www.firstrand.co.za/investors/debt-investor-centre/jse-listed-instruments/.
20 January 2025
Debt sponsor
FirstRand Bank Limited
