BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 7.75% FR 2026C
JMB202400371
| ISSUER | BANK OF JAMAICA |
| AUCTION DATE | Friday, 30 August 2024 |
| 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 | 3 September 2024 |
| MATURITY DATE | 3 September 2026 |
| TENOR | 2 Years |
| COUPON | Fixed at 7.75% per annum. |
| INTEREST PAYMENT | The first installment of interest will become due and payable on 3 December 2024. Thereafter, the quarterly interest payment becomes due on 3 March, 3 June, 3 September until maturity on 3 September 2026. |
| 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 30 August 2024. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 3 September 2024. |
| 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). |
