Offer of Fixed Rate US-Dollar Indexed Note
The Bank of Jamaica announces the offer of a Forty-Five Month FR US-Dollar Indexed Note as follows:
| Instrument Name: | 4.25% US – Indexed Note 2029A |
| Auction Date: | 17 June 2025 |
| Settlement Date: | 19 June 2025 |
| Offer Amount: | USD 80,000,000.00 |
| Non-Competitive Amount: | USD 4,000,000.00 |
| Maturity Date: | 19 March 2029 |
| Tenor: | Forty-Five Months |
| Subscription Currency | USD |
| Settlement Currency: | Settlement will occur on Thursday, 19 June 2025 payable in JMD using 10-day moving average buy rate applicable on Tuesday, 17 June 2025 – i.e. the rate published on Monday, 16 June 2025 |
| Coupon: | 4.25% percent per annum |
| Pricing Format: | Competitive Pricing Auction |
| Interest Payment Frequency: | Quarterly |
| Rate of Exchange for Payment of Principal and Interest: | For each quarterly interest payment and at maturity, the applicable exchange rate will be the 10-day moving average selling exchange rate applicable on the date of payment. |
| Prepayment Option: | Bank of Jamaica reserves the right to effect prepayment operations on this instrument. The terms and conditions for all prepayment operations applicable to this instrument will be provided in the Term Sheet. |
The allocation of bids may be subject to a reserve yield. Bids above the reserve yield will not be eligible for allocation.
The Term Sheet will be circulated via electronic mail to all Primary Dealers and commercial banks and will also be available on the Bank’s website at www.boj.org.jm.
This instrument is available directly to Primary Dealers and commercial banks. Other investors may access these instruments through a Primary Dealer.
