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Tender of 2-Year Government Bonds under the Institutional Bond Issuance Programme to be held on March 7, 2012
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (February 27) that a tender of 2-Year Government Bonds (Bonds) under the Institutional Bond Issuance Programme will be held on Wednesday, March 7, 2012, for settlement on Thursday, March 8, 2012.

     A total of HK$3.5 billion 2-Year Bonds will be tendered.  The Bonds will mature on March 10, 2014 and will carry interest at the rate of 0.38% per annum payable semi-annually in arrears.

     Under the Institutional Bond Issuance Programme, tender is open only to Recognised Dealers which are appointed as Primary Dealers.  Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme's website at www.hkgb.gov.hk.  Each tender must be for an amount of HK$50,000 or integral multiples thereof.

     Tender results will be published on the HKMA's website, Government Bond Programme's website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.

HKSAR GOVERNMENT
INSTITUTIONAL BOND ISSUANCE PROGRAMME
TENDER INFORMATION

     Tender information of 2-Year Government Bonds under the Institutional Bond Issuance Programme:-

Issue Number              : 02GB1403

Stock code                : 4212 (HKGB 0.38 1403)

Tender Date and Time      : March 7, 2012 (Wednesday)
                            9.30am to 10.30am

Issue and Settlement Date : March 8, 2012 (Thursday)

Amount on Offer           : HK$3.5 billion

Maturity                  : Two years

Maturity Date             : March 10, 2014

Interest Rate             : 0.38% p.a., payable semi-
                            annually in arrears

Interest Payment Dates    : September 10, 2012
                            March 8, 2013
                            September 9, 2013
                            March 10, 2014

Method of Tender          : Competitive tender

Tender Amount             : Each competitive tender
                            must be for an amount
                            of HK$50,000 or
                            integral multiples
                            thereof. Any tender
                            applications for the
                            Bonds must be submitted
                            through a Primary Dealer
                            on the current published
                            list.

Other details             : Please see Information
                            Memorandum available on
                            the Government Bond
                            Programme's website at
                            www.hkgb.gov.hk
                            or approach Primary
                            Dealers.

Expected commencement
date of dealing on the
Stock Exchange of Hong
Kong Limited              : March 9, 2012

Price/Yield Table of the new Government Bonds at tender for reference* only:
        
Yield-to-Maturity Price  Yield-to-Maturity Price
     -0.62        102.01       0.38        100.00
     -0.57        101.91       0.43        99.90
     -0.52        101.81       0.48        99.80
     -0.47        101.71       0.53        99.70
     -0.42        101.61       0.58        99.60
     -0.37        101.50       0.63        99.50
     -0.32        101.40       0.68        99.41
     -0.27        101.30       0.73        99.31
     -0.22        101.20       0.78        99.21
     -0.17        101.10       0.83        99.11
     -0.12        101.00       0.88        99.01
     -0.07        100.90       0.93        98.91
     -0.02        100.80       0.98        98.82
      0.03        100.70       1.03        98.72
      0.08        100.60       1.08        98.62
      0.13        100.50       1.13        98.52
      0.18        100.40       1.18        98.42
      0.23        100.30       1.23        98.33
      0.28        100.20       1.28        98.23
      0.33        100.10       1.33        98.13
      0.38        100.00       1.38        98.04

* Disclaimer

     The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here.

Ends/Monday, February 27, 2012
Issued at HKT 17:49

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