RE-OPENING OF BANK OF JAMAICA 3.00% US-INDEXED NOTE 2024A ISIN: JMB202100013
| ISSUER | Bank of Jamaica |
| OFFER VOLUME | USD40,000,000.00 |
| ISSUE DATE | 19 January 2021 |
| SETTLEMENT DATE | 19 January 2021 However, the Bank of Jamaica reserves the right to close this offer before 12:30 pm on Tuesday, 19 January 2021. |
| SUBSCRIPTION PRICES/$100 | 100.065753 |
| SUBSCRIPTION CURRENCY | USD |
| SETTLEMENT CURRENCY | Payable in JMD using US$1.00= J$141.5762 (the conversion rate at initial opening) |
| TENOR | Three years |
| MATURITY DATE | 11 January 2024 |
| COUPON | Fixed at 3.00% p.a. |
| INTEREST PAYMENT | The first installment of interest will be due on 12 April 2021, and will be calculated at the Coupon from the Issue Date. Thereafter interest will be paid quarterly on 11 July, 11 October, 11 January and 11 April. The final payment becomes due at maturity on 11 January 2024. |
| 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. |
| BUSINESS DAY | In the event that a payment day occurs on a day other than a business day, such payment will be made on the next business day. |
| TAXATION | Interest on this instrument is subject to the withholding of taxes. |
| 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$10,000.00. |
