4.75% US – INDEXED NOTE 2026B
ISIN: JMB202400447
| ISSUER | Bank of Jamaica |
| OFFER VOLUME | USD 127,000,000.00 USD 120,650,000.00 allocated on Competitive basis USD 6,350,000.00 allocated on Non-competitive basis |
| ISSUE PRICE | To be determined through competitive bidding. |
| AUCTION DATE | 17 October 2024 |
| ISSUE/ SETTLEMENT DATE | 22 October 2024 |
| SUBSCRIPTION CURRENCY | USD |
| SETTLEMENT CURRENCY | Settlement will occur on Tuesday, 22 October 2024 payable in JMD using the 10-day moving average buy rate applicable on Thursday, 17 October 2024 – i.e. the rate published on Wednesday, 16 October 2024 |
| TENOR | Twenty-Six Months |
| MATURITY DATE | 22 December 2026 |
| COUPON | Fixed at 4.75% p.a. |
| INTEREST PAYMENT | The first installment of interest will be due on 22 January 2025, and will be calculated at the Coupon from the Issue Date. Thereafter interest will be paid quarterly on 22 April, 22 July, 22 October and 22 January. The final payment becomes due at maturityon 22 December 2026. |
| CURRENCY OF PAYMENT | All payments of principal and interest will be made in Jamaica Dollars. |
| RATE OF EXCHANGE FOR PAYMENT OF PRINCIPAL AND INTEREST | The 10-day moving average selling rate, applicable on the date of payment. |
| TAXATION | Interest on this instrument is subject to the withholding of taxes. |
| APPLICATION PROCESSING | Applications will be received via JamClear®-CSD between the hours of 9:30 am to 10:45 am and settlement will be effected via JamClear®-RTGS accounts held at Bank of Jamaica. |
| ENTITLEMENT PROCEEDS | 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. |
| PREPAYMENT OPTION | The Bank of Jamaica reserves the right to effect prepayment operations on this instrument in full or in any part thereof. Prepayment may be effected at any date after the Issue Date with depositors being provided with a Notice of Prepayment of not less than one (1) month prior to the date of prepayment. Such Notice will be disseminated via a News Release issued to the public via the electronic media and via the Bank’s website www.boj.org.jm. For prepayment, beneficial holders on register as at the record date for the specified date of prepayment will receive principal and accrued interest from the last interest payment date up to the date of prepayment. |
| MINIMUM BID SIZE | The minimum value for applications is US$1,000.00. |
| 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. |
