BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 1.00% FR 30D-CD 20210108
ISIN: JMB202000569
| ISSUER | BANK OF JAMAICA |
| AUCTION DATE | Friday, 15 January 2021 |
| OFFER VOLUME | JMD 15,000,000,000.00 JMD 14, 250,000,000.00 allocated on Competitive basis JMD 750,000,000.00 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 | 19 January 2021 |
| MATURITY DATE | 19 July 2023 |
| TENOR | Two Years and Six Months |
| COUPON | Fixed at 2.80% per annum |
| INTEREST PAYMENT | The first installment of interest will become due and payable on 19 April 2021. Thereafter, the quarterly interest payment becomes due on 19 July, 19 October, 19 January, 19 April until maturity on 19 July 2023. |
| 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 hours of 9:30 am to 11:30 am on 15 January 2021. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 19 January 2021. |
| 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). |
