BANK OF JAMAICA FIXED RATE CERTIFICATE OF DEPOSIT: 8.50% FR 2026A
|BANK OF JAMAICA
|Monday, 12 February 2024
JMD 23,750,000,000.00 allocated on Competitive basis
JMD 1,250,000,000.00 allocated on Non-competitive basis
|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.
|To be determined through competitive bidding
|15 February 2024
|02 March 2024
|Fixed at 8.50% per annum.
|The first installment of interest will become due and payable on 15 May 2024. Thereafter, the quarterly interest payment becomes due on 15 August, 15 November, 15 February until maturity on 02 March 2026.
|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.
|Interest on this instrument is subject to the withholding of taxes.
|Applications will be received via the JamClear Central Securities Depository [JamClear-CSD®] between the hours of 9:30 am to 10:45 am on 12 February 2024. Settlement will be effected via accounts in the JamClear® Real-time Gross Settlement system [JamClear®-RTGS] at the Bank of Jamaica on 15 February 2024.
|The allocation of bids will be subject to a reserve yield. Bids above the reserve price yield will not be eligible for allocation.
|Interest and principal payments will be effected through accounts housed in the JamClear RTGS® on the payment date.
|REGISTRATION OF SECURITIES
|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).