Bank of Jamaica : Term Sheet for BOJ 2.50% US-Indexed Note 2017

TERM SHEET FOR GOVERNMENT OF JAMAICA

2.50% US-INDEXED NOTE 2017 ISIN: BJU36517A315

ISSUER	Bank of Jamaica
OFFER VOLUME	US$50.0 Million
ISSUE DATE	01 February 2016
SUBSCRIPTION DATES	01 February - 04 February 2016 However, the Bank of Jamaica reserves the right to close this offer before 12:30 pm on Thursday, 04 February 2016.
SUBSCRIPTION PRICES/$100 (for each day of the subscription period)	01-Feb-16 100.000000 02-Feb-16 100.006849 03-Feb-16 100.013699 04-Feb-16 100.020548
SUBSCRIPTION CURRENCY	USD
SETTLEMENT CURRENCY	Payable in JMD using a rate of US$1.00 = J$120.5146; which is the 10-day moving average buy rate applicable on Friday, 29 January 2016, as published by the Bank of Jamaica.
TENOR	365-days
MATURITY DATE	31 January 2017
COUPON	Fixed at 2.50% p.a.
INTEREST PAYMENT	The first installment of interest will be due on 01 May 2016, and will be calculated at the Coupon from the Issue Date. Thereafter interest will be paid quarterly on 01 August, 01 November and at maturity on 31 January 2017.
CURRENCY OF PAYMENT	All payments of principal and interest will be made in Jamaica Dollars.
RATE OF EXCHANGE FOR PAYMENT OF PRINCIPAL AND INTEREST	The 10-day BOJ moving average selling rate, applicable on the date of payment, multiplied by a factor of 1.002.
TAXATION	Interest on this instrument is subject to the withholding of taxes.
PRUDENTIAL TREATMENT	This instrument will immediately qualify as a liquid asset.
APPLICATION PROCESSING	Applications will be received via the JamClear®-CSD between the hours of 9:30 am to 12:30 pm daily and settlement will be effected via JamClear®-RTGS accounts held at the Bank of Jamaica.
ENTITLEMENT PROCEEDS	Interest and principal payments will be effected through accounts housed in the JamClear®-RTGS on the payment date.
REGISTRATION OF SECURITIES	Issued and registered in the JamClear®-CSD, which is the only legal registrar for the securities issued.
PREPAYMENT OPTION	The Bank of Jamaica reserves the right to effect prepayment operations on this instrument in full or in any part thereof. Prepayment may be effected at any date after the Issue Date with depositors being provided with a Notice of Prepayment of not less than one (1) month prior to the date of prepayment. Such Notice will be disseminated via a News Release issued to the public via the electronic media and via the Bank's website www.boj.org.jm. For prepayment, beneficial holders on register as at the record date for the specified date of prepayment will receive principal and accrued interest from the last interest payment date up to the date of prepayment.
MINIMUM BID SIZE	The minimum value for applications is US$10,000.00.