Traditional Chinese Simplified Chinese Email this article news.gov.hk
Tender of 2-Year Exchange Fund Notes to be held on August 15
************************************************************

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on  August 15, 2012 (Wednesday) for settlement on August 16, 2012 (Thursday).

     A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC).  If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million).  The Notes will mature on August 18, 2014 and will carry interest at the rate of 0.17% per annum payable semi-annually in arrears.

     Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing.  Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers on the current published list, which can be obtained from the HKMA at 55/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong (telephone 2878 1465), or from the HKMA's website at www.hkma.gov.hk.  Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.

     The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), and Bloomberg.  Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC's CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.

Hong Kong Monetary Authority
Exchange Fund Note Programme
Tender Information
_____________________________

Tender information of 2-Year Exchange Fund Notes:

Issue Number           : 02Y1408

Stock code             : 4029 (EFN 0.17 1408)

Tender Date            : August 15, 2012 (Wednesday)
and Time                 9.30am to 10.30am

Issue and Settlement   : August 16, 2012 (Thursday)
Date

Amount on Offer        : HK$1,200 million
                         (up to HK$5 million for
                         non-competitive tender)

Commencement of/       : Please refer to requirements
Deadline for             as set down by HKSCC
submission of non-
competitive tender bids
by retail investors
through HKSCC

Maturity               : Two years

Maturity Date          : August 18, 2014

Interest Rate          : 0.17% p.a.

Interest Payment Dates : February 18, 2013
                         August 16, 2013
                         February 17, 2014
                         August 18, 2014

Tender Amount          : Each tender must be for an
                         amount of HK$50,000 or
                         integral multiples thereof
                         for both competitive and
                         non-competitive tender.  
                         Members of the public who
                         wish to apply for the Notes
                         through non-competitive
                         tenders that are open to
                         HKSCC may do so through
                         Stock Exchange Participants/
                         Brokers, or for those who
                         hold Investor Accounts at
                         HKSCC's CCASS, directly
                         through HKSCC. Members of
                         the public who wish to apply
                         for the Notes through
                         competitive tender may only
                         do so through any of the
                         Eligible Market Makers on
                         the current published list.

Other details          : Please see Information
                         Memorandum published or
                         approach Eligible Market
                         Makers, HKSCC or brokers who
                         are Exchange Participants of
                         the Stock Exchange of Hong
                         Kong

Expected commencement  : August 17, 2012
date of dealing on
the Stock Exchange
of Hong Kong
 
Price/Yield Table of the new EFN at tender for reference* only :-

Yield-to-Maturity   Price   Yield-to-Maturity   Price

     -0.83         102.02        0.17         100.00
     -0.78         101.92        0.22          99.90
     -0.73         101.82        0.27          99.80
     -0.68         101.72        0.32          99.70
     -0.63         101.61        0.37          99.60
     -0.58         101.51        0.42          99.50
     -0.53         101.41        0.47          99.40
     -0.48         101.31        0.52          99.31
     -0.43         101.21        0.57          99.21
     -0.38         101.11        0.62          99.11
     -0.33         101.00        0.67          99.01
     -0.28         100.90        0.72          98.91
     -0.23         100.80        0.77          98.81
     -0.18         100.70        0.82          98.72
     -0.13         100.60        0.87          98.62
     -0.08         100.50        0.92          98.52
     -0.03         100.40        0.97          98.42
      0.02         100.30        1.02          98.33
      0.07         100.20        1.07          98.23
      0.12         100.10        1.12          98.13
      0.17         100.00        1.17          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, August 6, 2012
Issued at HKT 16:30

NNNN

Print this page