Absa Bank Lists AMB686 Index Linked Notes on JSE

In Short

The instrument is an index linked note, tied to the S&P 500 Daily Risk Control 10% USD Excess Return Index.

The listing sits under Absa’s Master Structured Note Programme.

What Happened: How Absa’s AMB686 Note Is Structured

The JSE Limited granted a financial instrument listing to Absa Bank Limited’s “AMB686” notes under its Master Structured Note Programme Memorandum.

The instrument type is an index linked note, meaning its performance is linked to a market index rather than paying a simple fixed or floating interest rate.

For AMB686, the referenced index is the S&P 500 Daily Risk Control 10% USD Excess Return Index (Bloomberg ticker: SPXT10UE Index).

The note has an ISIN of ZAE000371910. The JSE long code is ABMBMB686-28OCTOBER2031, and the JSE short code is ABMBMB686.

The authorised programme size is R120,000,000,000.00, and total notes in issue are R 94 419 953 038,59, including this tranche.

The pricing supplement contains changes to the terms and conditions in the placing document. These changes relate to Condition 9 titled “Taxation” and the definition of “Change in Law”.

Why It Matters

JSE-listed structured notes like AMB686 create another on-exchange way for investors to access returns linked to global equity benchmarks, in this case an S&P 500 risk control index.

The note also shows continued use of bank note programmes to issue new tranches under a larger approved framework, with specific terms set out in a pricing supplement.