BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 6.50% FR 2027B
JMB202500253
| ISSUER | BANK OF JAMAICA |
| AUCTION DATE | Tuesday, 22 April 2025 |
| 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 | 24 April 2025 |
| MATURITY DATE | 25 May 2027 |
| TENOR | 25 Months |
| COUPON | Fixed at 6.50% per annum. |
| INTEREST PAYMENT | The first installment of interest will become due and payable on 24 July 2025. Thereafter, the quarterly interest payment becomes due on 24 October, 24 January, 24 April until maturity on 25 May 2027. |
| 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 10:45 am on 22 April 2025. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 24 April 2025. |
| RESERVE YIELD | The allocation of bids may 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 Hundred Thousand Dollars ($100,000.00). |
