Debt Notice Neutral
INVESTEC BANK LIMITED - Updated pricing supplement issued in relation to the flexible investment notes
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What this filing means
Investec Bank has published an updated pricing supplement for its flexible investment notes (FNIB19), transitioning them to a Euro Stoxx Select Dividend 30 Index profile with a 2045 scheduled maturity.
Bull case
- Investec has successfully transitioned the flexible investment notes (JSE: FNIB19, issue size 10,000,000) to Investment Profile No. 2 following the automatic exercise of the prior profile.
- The updated pricing supplement links the notes to the Euro Stoxx Select Dividend 30 Index (Initial Index Level 2,316.83) utilising a Bermudan-style call option structure.
Bear case
- The notes carry a long-dated capital commitment, featuring a Final Valuation Date of 2 June 2031 and a Scheduled Redemption Date of 29 May 2045.
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