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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 May 18, 2016 (Wednesday) for settlement on May 19, 2016 (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 May 21, 2018 and will carry interest at the rate of 0.67% 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
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Tender information of 2-Year Exchange Fund Notes :
Issue Number : 02Y1805
Stock code : 4064 (EFN 0.67 1805)
Tender Date : May 18, 2016 (Wednesday)
and Time 9.30am to 10.30am
Issue and Settlement : May 19, 2016 (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 : May 21, 2018
Interest Rate : 0.67% p.a.
Interest Payment Dates : November 21, 2016
May 19, 2017
November 20, 2017
May 21, 2018
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 : May 20, 2016
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
-0.33 102.01 0.67 100.00
-0.28 101.91 0.72 99.90
-0.23 101.81 0.77 99.80
-0.18 101.70 0.82 99.71
-0.13 101.60 0.87 99.61
-0.08 101.50 0.92 99.51
-0.03 101.40 0.97 99.41
0.02 101.30 1.02 99.31
0.07 101.20 1.07 99.22
0.12 101.10 1.12 99.12
0.17 101.00 1.17 99.02
0.22 100.90 1.22 98.92
0.27 100.80 1.27 98.83
0.32 100.70 1.32 98.73
0.37 100.60 1.37 98.63
0.42 100.50 1.42 98.54
0.47 100.40 1.47 98.44
0.52 100.30 1.52 98.34
0.57 100.20 1.57 98.25
0.62 100.10 1.62 98.15
0.67 100.00 1.67 98.05
* 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, May 9, 2016
Issued at HKT 16:30
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