BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 7.50% FR 30D-CD 20230818
JMB202300340
ISSUER | BANK OF JAMAICA |
AUCTION DATE | Wednesday, 16 August 2023 |
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 |
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 | 18 August 2023 |
MATURITY DATE | 15 September 2023 |
TENOR | 28 days |
COUPON | Fixed at 7.50% per annum |
INTEREST PAYMENT | At maturity on 15 September 2023 |
TAXATION | Interest on this instrument is subject to the withholding of taxes. |
APPLICATIONS RESERVE YIELD | Applications will be received via the JamClear® Central Securities Depository [JamClear®-CSD] between the hours of 9:30am to 10:45 am on 16 August 2023. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 18 August 2023. 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 | Issued and 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). |