Offer of Fixed Rate US-Dollar Indexed Note  

The Bank of Jamaica announces the offer of a two and a half year FR US-Dollar Indexed Note. This instrument will be allocated through a competitive price auction using JamClear®-CSD . The details of this offer are as follows: 

Instrument Name:6.00% US – Indexed Note 2026A
Auction Date:27 November 2023
Settlement Date:29 November 2023
Offer Amount:USD190,000,000.00
Maturity Date:29 May 2026
Tenor:Two Years and Six Months
Subscription CurrencyUSD
Settlement Currency: Payable in JMD using the 10-day moving average buying exchange rate applicable on Monday, 27 November 2023 i.e. the rate published on Friday, 24 November 2023.
Coupon:6.00% 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 will 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

This instrument is available directly to Primary Dealers and commercial banks. Other investors may access these instruments through a Primary Dealer

Post Author: Editorial Team