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The Standard Bank of South Africa Limited
Amendment Announcement - “CLN890”
Stock Code: CLN890
ISIN Code: ZAG000190562
CLN890 Senior Unsecured Floating Rate Credit Linked Note due
20 December 2027- sponsored by The Standard Bank of South Africa
Limited (acting through its Corporate and Investment Banking
Division), issued under its Structured Note Programme, has been
amended for the manifest errors as follows:
i. The deletion of “Not Applicable” and replacement thereof
with “Applicable” as well as the consequential insertion
of “ZAR-JIBAR-SAFEX” as the “Relevant Benchmark” in the
definition of “Additional Fallback Provisions” as set out
in paragraph 60 of the Applicable Pricing Supplement; and
ii. The deletion of “and in the case of (i) above” in the sixth
line of paragraph 85.1 of the Applicable Pricing Supplement
so that it reads as follows-
“If at any time on any day prior to the redemption of these
Notes, the Calculation Agent determines that the Unwind
Value of the Notes would be less than 35% (the "Trigger
Level") of the Nominal Amount thereof the Issuer may elect,
in its sole and absolute discretion, (regardless of
whether or not such Unwind Value is still below the Trigger
Level at the relevant time or on the date on which the
Notes are to be redeemed), to redeem the Notes early in
accordance with the provisions of Condition 7.3 (read with
paragraph 57 above) by delivering the Optional Redemption
Notice.”.
These amendments are effective 16 November 2022.
The remainder of the terms of the Applicable Pricing Supplement
remain unchanged.
Dated 14 November 2022
Sponsor – The Standard Bank of South Africa Limited
For further information on the Note issued please contact:
Johann Erasmus SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za
