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Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1925/002833/06)
Issuer code: INLV
LEI No: 13800CU7SM6O4UWOZ70
New Financial Instrument Listing
Announcement
ISSUE OF INLV21 SUBORDINATED UNSECURED CALLABLE FLOATING RATE
ADDITIONAL TIER 1 NOTES (“INLV21 NOTES”)
Application has been made to the JSE Limited (“JSE”) for the listing of ZAR300,000,000
(three hundred million Rand) subordinated unsecured callable floating rate
Additional Tier 1 Notes (stock code INLV21), under Investec Limited’s Domestic Medium
Term Note and Preference Share Programme dated 15 November 2017.
The INLV21 Notes will be issued to Noteholders on the date of listing being
27 February 2026 with effect from commencement of trade.
Salient features of the INLV21 Notes are listed below:
Issuer Investec Limited
Instrument subordinated unsecured callable
Additional Tier 1 Notes, subject to
Write Off if a Trigger Event occurs in
relation to the Issuer
Issue Date
27 February 2026
Nominal Amount per Note R1,000,000
Aggregate Nominal Amount of Tranche R300,000,000
Interest Rate The Reference Rate plus the Margin
Reference Rate Compounded Daily ZARONIA
(Lookback without Observation
Shift), as defined in, and
determined in accordance with the
provisions of Schedule 1 (Screen
Rate Determination for Floating
Rate Notes Referencing
Compounded Daily ZARONIA
(Lookback without Observation
Shift) of the Applicable Pricing
Supplement and notified to the
Noteholders in accordance with
Condition 19 (Notices).
Margin 2.28%
Interest Rate Determination Date the 5th (fifth) Johannesburg
Business Day (as defined in
Schedule 1 of the Applicable Pricing
Supplement (Screen Rate
Determination for Floating Rate
Notes Referencing Compounded
Daily ZARONIA (Lookback without
Observation Shift) prior to (i) the
Issue Date; and (ii) each Interest
Payment Date
Maturity Date Subject to the section titled
“Provisions regarding
Redemption/Maturity” below, this
Tranche of Additional Tier 1 Notes
shall only be redeemed, at the
aggregate outstanding Nominal
Amount of this Tranche plus
accrued unpaid interest (if any), on
a winding-up (other than pursuant to
a Solvent Reconstruction) or
liquidation of the Issuer, subject to
Condition 6.4 (Status of Additional
Tier 1 Notes) (and specifically
Condition 6.4.3 (Subordination))
Issue price per Note 100%
Final Redemption Amount per Note The aggregate outstanding Nominal
Amount (plus accrued interest, if
any, to the Maturity Date)
Redemption at the option of the Issuer Applicable, subject to the applicable
Regulatory Capital Requirements
and Condition 10.1.8 (Conditions to
redemption, purchase, cancellation,
modification, substitution or
variation of Subordinated Capital
Notes). The Optional Redemption
Date is 27 May 2031 and on each
Interest Payment Date thereafter.
Early Redemption Amount The outstanding Nominal Amount
per Note plus accrued unpaid
interest (if any)
Interest Commencement Date 27 February 2026
Books Close Day(s) The Register will be closed on 26
February, 26 May, 26 August and
26 November each year until the
Applicable Redemption Date
Last Day to Register 25 February, 25 May, 25 August
and 25 November and if such day is
not a Business Day, the Business
Day immediately preceding such
day.
Interest Payment Dates 27 February, 27 May, 27 August
and 27 November in each year, with
the first Interest Payment Date
being 27 May 2026
Business Day Convention Following Business Day
JSE Stock Code INLV21
ISIN ZAG000223215
Aggregate Nominal Amount of Notes Outstanding ZAR15,678,000,000.00 excluding
and aggregate Calculation Amount of Programme this Tranche of Notes but including
Preference Shares as at the Issue Date all other Notes and Programme
Preference Shares issued on the
Issue Date.
The Applicable Pricing Supplement has additional Condition 9.2.4 (Screen Rate
terms and conditions or changes to the terms and Determination including fallback
conditions as contained in the Programme definitions) shall not apply and the
Memorandum. Interest Rate shall be determined in
accordance with Schedule 1.
Schedule 1 was inserted to provide
definitions and terms and conditions
relating to ZARONIA.
A new Condition 9.8 Bench Mark
Discontinuation was inserted as
Schedule 2.
Schedule 3 was inserted to highlight
additional risk factors relating to
ZARONIA.
Investors should study the Applicable Pricing
Supplement for full details of the terms and
conditions applicable to these Notes which can be
viewed or downloaded on the Issuer's website:
www.investec.com.
Date: 26 February 2026
Debt Sponsor:
Investec Bank Limited
bongani.ntuli@investec.co.za
