BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 4.50% FR 2024A
ISIN: JMB202200060
| ISSUER | BANK OF JAMAICA |
| AUCTION DATE | Friday, 11 February 2022 |
| OFFER VOLUME | JMD 20,000,000,000.00 JMD 19,000,000,000.00 allocated on Competitive basis JMD 1,000,000,000.00 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 | 15 February 2022 |
| MATURITY DATE | 15 February 2024 |
| TENOR | Two Years |
| COUPON | Fixed at 4.50% per annum. |
| INTEREST PAYMENT | The first installment of interest will become due and payable on 16 May 2022. Thereafter, the quarterly interest payment becomes due on 15 August, 15 November, 15 February, 15 May until maturity on 15 February 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. |
| PRUDENTIAL TREATMENT | This instrument will immediately qualify as a liquid asset. |
| RESERVE YIELD | The allocation of bids will start at the lowest yield to the highest yield, subject to a calculated reserve yield, until the auction amount is fully allotted. Bids above the reserve 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) |
