FTSE 100 Defensive Step Down Kick-Out Plan 18 Potential for maturity each year from the end of year 2 onwards with a fixed payment equal to 6.15% per annum (not compounded) if the FTSE 100 is higher than a reducing percentage of its starting level. These percentages are 100%, 95%, 85%, 75% and 65%. If the Plan runs for the full 6 years and at the end of 6 years the FTSE 100 finishes lower than 60% of its starting level, you will lose some or all of your initial investment. Limited offer ends (including 18 April 2019 2019/20 ISAs): 2018/19 ISAs: 5 April 2019 ISA transfer deadline: 29 March 2019 Issuer of Securities: Investec Bank plc Plan manager: Investec Bank plc . FTSE 100 Defensive Step Down Kick-Out Plan 18 Important information This document is not a prospectus, but an advertisement, and investors should not subscribe for any investment in the Plan except on the basis of information in the Key Information Document, the Base Prospectus dated 9 August 2018 relating to the Zebra Capital Plans Retail Structured Products Programme of Investec Bank plc and the related Final Terms and any Base Prospectus Supplements published since such date. Copies of the Base Prospectus and any Base Prospectus Supplements can be obtained upon request from Investec Structured Products, 30 Gresham Street, London, EC2V 7QP or via the website www.investecstructuredproducts.com. The Financial Conduct Authority, alongside the Prudential Regulation Authority, regulates Investec Bank plc. They require us to give you this important information to help you decide whether the Plan is right for you. You should read this document and the Key Information Document carefully so that you understand what you are buying, and then keep it safe for future reference. About Investec How can you contact us? This brochure has been prepared by Investec Structured Products, As you have a financial adviser, please which is a trading name of Investec Bank plc, which is part of the continue to use them as your first point of Investec group of companies. contact. Investec (comprising Investec Limited and Investec plc) is an Alternatively, you can write to us at: international specialist bank and asset manager that provides a Investec Structured Products, diverse range of financial products and services to a select client PO Box 914, base in three principal markets, namely the UK and Europe, South Newport, NP20 9PE. Africa and Asia/Australia as well as certain other countries. The group was established in 1974 and currently has approximately 10,100 You can also contact us by telephone on: employees. 0344 892 0942. Investec focuses on delivering distinctive profitable solutions for its Or visit our website: clients in three core areas of activity, namely Asset Management, www.investecstructuredproducts.com Wealth & Investment and Specialist Banking. Investec sponsors the Investec Derby Festival, the England & GB Women’s Hockey teams, the Investec Rugby Championship and How to Invest Investec Super Rugby in New Zealand. We are also proud to support Investec Opera Holland Park and the National Gardens Scheme. Applications for the Plan must be submitted via a financial adviser. For more information on Investec speak to your financial adviser or visit www.investecstructuredproducts.com. Cheques should be made payable to ‘Investec Bank plc’; bankers’ drafts or building society cheques must be made payable ‘Investec Bank plc - reference (your name)’. Please note we cannot accept post-dated cheques. Investec reserves the right to reject an application for any reason, including in circumstances where the Plan is oversubscribed. 02 FTSE 100 Defensive Step Down Kick-Out Plan 18 Contents About Investec 02 How can you contact us? 02 How to Invest 02 Plan Summary 04 How does the Plan work? 07 Examples of what you might get back at the end of the Plan Term 09 What is the FTSE 100? 10 Risks 11 Is this Plan right for you? 13 Ways to invest 14 How can you contact us? 14 Are there any compensation arrangements in place? 14 Using your ISA allowance 14 Your questions answered 15 Terms and Conditions 21 Terms in this brochure beginning with a capital letter, unless otherwise defined, have the meanings given to them in the Definitions section of the 'Terms and Conditions' 03 FTSE 100 Defensive Step Down Kick-Out Plan 18 Plan Summary The aim of the Plan is to provide an investment return even if the FTSE 100 falls by up to 35% and return your initial investment at the end of the 6 year term, or earlier if the Plan matures early. Your initial investment is at risk. ISIN code XS1955110470 Plan FTSE 100 Defensive Step Down Kick-Out Plan 18 Plan Manager Investec Bank plc Issuer Investec Bank plc Plan Term 6 years Offer Period for 2018/19 ISAs 4 March 2019 to 5 April 2019 Offer Period for Direct Investments and 2019/20 ISAs 4 March 2019 to 18 April 2019 Offer Period for ISA transfers 4 March 2019 to 29 March 2019 Start Date 29 April 2019 Final Maturity Date 29 April 2025 Kick-Out Dates 29 April 2021, 29 April 2022, 2 May 2023 and 29 April 2024 Underlying FTSE 100 04 FTSE 100 Defensive Step Down Kick-Out Plan 18 Product Description If at the end of any of years 2, 3, 4, 5 or 6 the FTSE 100 is higher than a specified percentage of its starting level, the Plan will mature returning your initial investment plus a fixed payment equal to 6.15% per annum (not compounded). The below table shows the levels that the FTSE 100 needs to exceed, for the Plan to Kick-Out and pay a return, expressed as a percentage of the FTSE 100 level on the Start Date. Year Kick-Out Level Year 2 100% Year 3 95% Year 4 85% Year 5 75% Year 6 65% If the Plan runs for the full 6 years and the FTSE 100 is equal to or higher than 60% but equal to or lower than 65% of its starting level, your investment will be returned with no additional return. Risk to your Investment If the Plan runs for the full 6 years and the FTSE 100 finishes lower than 60% of its starting level, your initial investment will be reduced by 1% for every 1% fall in the FTSE 100 over the Plan Term. Please refer to the ‘How does the Plan Work’ section of this brochure for more information. Tax Treatment UK tax resident and domiciled individuals: Any return made at maturity is expected to be subject to UK Capital Gains Tax. Please refer to the 'Your questions answered' section of this brochure for more information. Minimum Investment You must be able to commit a sum of at least £3,000 for the full Plan Term. Maximum Investment £3,000,000 Ways to Invest Direct investment (not via an ISA) Stocks and shares ISA for 2018/19 and/or 2019/20 ISA Transfer SIPP/SSAS pension arrangements Trustee, corporate, charity and nominee investments Joint holder Gift for another On behalf of a child 05 FTSE 100 Defensive Step Down Kick-Out Plan 18 Key Product Risks This product puts your investment at risk. If the product runs for the full Plan Term and the FTSE 100 finishes lower than 60% of its starting level, you will lose some or all of your money. There is a risk that you will not receive any return on your investment at the end of 6 years. The Plan must be held for the full term of 6 years, unless the Plan matures early. Any return you receive may be less than the amount you would have received by investing directly in the FTSE 100. If you redeem your investment before the Maturity Date, you may get back significantly less than the amount you originally invested. If Investec Bank plc fails or becomes insolvent (i.e. goes bankrupt or similar), you could lose some or all of your money. You will not be entitled to compensation from the Financial Services Compensation Scheme (‘FSCS’). The tax treatment of the Plan could change at any time and Investec will not compensate you for any change in tax treatment. For more information, including but not limited to investment risk, credit risk, and tax risks, please see the Risks section of this brochure on page 11. 06 FTSE 100 Defensive Step Down Kick-Out Plan 18 How does the Plan work? The Initial Index Level is recorded at the start of the Plan. The Initial Index Level is the closing level of the FTSE 100 on the Start Date. Early Maturity (Kick-Out) The Plan has the potential to mature early on each Kick-Out Date. The Kick-Out Dates are 29 April 2021, 29 April 2022, 2 May 2023 and 29 April 2024. On any Kick-Out Date: If the Kick-Out Level is higher than the specified percentage of the Initial Index Level, the Plan will mature early (Kick- Out) and you will receive back your initial investment plus 6.15% per annum (not compounded). These percentages are 100%, 95%, 85% and 75%. If the Kick-Out Level is equal to or lower than the specified percentage of the Initial Index Level the Plan will continue. The Kick-Out Level is the average of the closing levels of the FTSE 100 on the relevant Kick-Out Date and the four previous Business Days. End of Year 2 Plan Matures early (Kick-Out). Yes ► Is the Kick-Out Level of the FTSE 100 Return of your initial investment 12.3% higher than 100% of the Initial Index Level? plus No ▼ End of Year 3 Plan Matures early (Kick-Out).