Notices

BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 7.50% FR 30D-CD 20230818
JMB202300340


ISSUERBANK OF JAMAICA 
  
AUCTION DATEWednesday, 16 August 2023
OFFER VOLUMEJMD 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 BIDSAll 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 PRICETo be determined through competitive bidding
ISSUE/SETTLEMENT DATE18 August 2023 
MATURITY DATE15 September 2023
TENOR28 days                                            
COUPONFixed at 7.50% per annum
INTEREST PAYMENT         At maturity on 15 September 2023
TAXATIONInterest on this instrument is subject to the withholding of taxes.
APPLICATIONS             RESERVE YIELDApplications 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.  
ENTITLEMENTSInterest and principal payments will be effected through accounts housed in the JamClear® RTGS on the payment date.
REGISTRATION OF SECURITIESIssued and registered in the JamClear®-CSD, which is the only legal registrar for the securities issued. 
MINIMUM BID SIZEThe minimum value for applications is JMD One Million Dollars ($1, 000, 000.00).

Post Author: Editorial Team