2 Year FR CD Auction Term Sheet - 19 August 2022 » Bank of Jamaica

Notices

BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 7.50% FR 2024C
ISIN: JMB202200367

ISSUER	BANK OF JAMAICA

AUCTION DATE	Tuesday, 23 August 2022
OFFER VOLUME	JMD 8,000,000,000.00 JMD 7,600,000,000.00 allocated on Competitive basis JMD 400,000,000.00 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	25 August 2022
MATURITY DATE	26 August 2024
TENOR	Two Years
COUPON	Fixed at 7.50% per annum.
INTEREST PAYMENT	The first installment of interest will become due and payable on 25 November 2022. Thereafter, the quarterly interest payment becomes due on 25 February, 25 May, 25 August until maturity on 26 August 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 23 August 2022. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 25 August 2022.
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