13 Month FR CD Term Sheet - 05 May 2023 » Bank of Jamaica

Notices

BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 8.00% FR 2024D
ISIN: JMB202300183

ISSUER	BANK OF JAMAICA

AUCTION DATE	Monday, 08 May 2023
OFFER VOLUME	JMD 22,000,000,000.00 JMD 20,900,000,000.00 allocated on Competitive basis JMD 1,100,000,000.00 allocated on Non-competitive basis
NON-COMPETITIVE BIDS	All bids from Public Sector Entities must be submitted as non-competitive bids. Bids allotted on a non-competitive basis will be settled at the weighted average price for the successfully allotted competitive bids. All bids from entities other than Public Sector entities must be submitted on a competitive basis.
ISSUE PRICE	To be determined through competitive bidding.
ISSUE/SETTLEMENT DATE	10 May 2023
MATURITY DATE	10 June 2024
TENOR	13 Months
COUPON	Fixed at 8.00% per annum.
INTEREST PAYMENT	The first installment of interest will become due and payable on 10 August 2023. Thereafter, the quarterly interest payment becomes due on 10 November, 10 February, 10 May until maturity on 10 June 2024.
BUSINESS DAY	In the event that a payment day occurs on a day other than a business day, such payments will be made on the next business day.
TAXATION	Interest on this instrument is subject to the withholding of taxes.
APPLICATIONS	Applications will be received via the JamClear Central Securities Depository [JamClear-CSD®] between the hours of 9:30 am to 11:30 am on 08 May 2023. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 10 May 2023.
PRUDENTIAL TREATMENT	This instrument will immediately qualify as a liquid asset.
RESERVE YIELD	The allocation of bids will be subject to a reserve yield. Bids above the reserve price yield will not be eligible for allocation.
ENTITLEMENTS	Interest and principal payments will be effected through accounts housed in the JamClear RTGS® on the payment date.
REGISTRATION OF SECURITIES	Registered in the JamClear®-CSD, which is the only legal registrar for the securities issued.
MINIMUM BID SIZE	The minimum value for applications is JMD One Million Dollars *($1, 000, 000.00)*

Post Author: Editorial Team