Traditional Chinese Simplified Chinese Email this article news.gov.hk
Tender of 2-Year Exchange Fund Notes to be held on November 17
************************************************************

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 November 17, 2015 (Tuesday) for settlement on 18 November, 2015 (Wednesday).

     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 November 20, 2017 and will carry interest at the rate of 0.42% 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          : 02Y1711

Stock code            : 4062 (EFN 0.42 1711)

Tender Date           : November 17, 2015 (Tuesday)
and Time                9:30am to 10.30am

Issue and Settlement  : November 18, 2015 (Wednesday)
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         : November 20, 2017

Interest Rate         : 0.42% p.a.

Interest Payment Dates: May 18, 2016
                        November 18, 2016
                        May 18, 2017
                        November 20, 2017

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 : November 19, 2015
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

     -0.58          102.02        0.42        100.00
     -0.53          101.91        0.47         99.90
     -0.48          101.81        0.52         99.80
     -0.43          101.71        0.57         99.70
     -0.38          101.61        0.62         99.60
     -0.33          101.51        0.67         99.51
     -0.28          101.41        0.72         99.41
     -0.23          101.30        0.77         99.31
     -0.18          101.20        0.82         99.21
     -0.13          101.10        0.87         99.11
     -0.08          101.00        0.92         99.02
     -0.03          100.90        0.97         98.92
      0.02          100.80        1.02         98.82
      0.07          100.70        1.07         98.72
      0.12          100.60        1.12         98.63
      0.17          100.50        1.17         98.53
      0.22          100.40        1.22         98.43
      0.27          100.30        1.27         98.33
      0.32          100.20        1.32         98.24
      0.37          100.10        1.37         98.14
      0.42          100.00        1.42         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/Friday, November 6, 2015
Issued at HKT 16:31

NNNN

Print this page