HKMA to Hold HK$1.2 Billion Tender for 2-Year Exchange Fund Notes on November 22, 2024.

Tender of 2-Year Exchange Fund Notes to be held on November 22

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 22, 2024 (Friday) for settlement on 25 November 2024 (Monday), as set out in the published tentative issuance schedule. This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day.

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 25, 2026, and will carry interest at the rate of 3.19% 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 appointed by the HKMA, with the current published list available on 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 Refinitiv 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.

HKMA Exchange Fund Note Programme Tender Information

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Tender information of 2-Year Exchange Fund Notes:

Issue Number

:

02Y2611

Stock code

:

4101 (EFN 3.19 2611)

Tender date and time

:

Friday, November 22, 2024

9.30am to 10.30.m

Issue and Settlement Date

:

Monday, November 25, 2024

Amount on offer

:

HK$1,200 million

(up to HK$5 million for non-competitive tender)

Commencement of/

Deadline forsubmission of non-competitive tender bids by retail investors through HKSCC

:

Please refer to requirements as set down by HKSCC

Maturity

:

Two years

Maturity Date

:

Wednesday, November 25, 2026

Interest Rate

:

3.19% p.a.

Interest Payment Dates

:

May 26, 2025

November 25, 2025

May 26, 2026

November 25, 2026

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 Investors 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 date of dealing on the Stock Exchange of Hong Kong

:

Tuesday, November 26, 2024

Price/Yield Table of the new EFN at tender for reference* only:

Yield-to- Maturity

Price

Yield-to-Maturity

Price

2.190

101.97

3.190

100.05

2.240

101.87

3.240

99.95

2.290

101.78

3.290

99.86

2.340

101.68

3.340

99.76

2.390

101.58

3.390

99.67

2.440

101.48

3.440

99.58

2.490

101.39

3.490

99.48

2.540

101.29

3.540

99.39

2.590

101.19

3.590

99.29

2.640

101.10

3.640

99.20

2.690

101.00

3.690

99.11

2.740

100.91

3.740

99.01

2.790

100.81

3.790

98.92

2.840

100.71

3.840

98.83

2.890

100.62

3.890

98.74

2.940

100.52

3.940

98.64

2.990

100.43

3.990

98.55

3.040

100.33

4.040

98.46

3.090

100.24

4.090

98.37

3.140

100.14

4.140

98.27

3.190

100.05

4.190

98.18

* 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.

Tropical Cyclone Toraji situation report (1)

The Hong Kong Observatory issued No. 8 Northeast Gale or Storm Signal at 11.10pm yesterday (November 13).

The Home Affairs Department has so far opened 27 temporary shelters in various districts and 101 people have sought refuge at the shelters.

As at 2am today (November 14), the Government's 1823 Call Centre received one report of fallen trees. The Fire Services Department and the Leisure and Cultural Services Department have not received any reports of fallen trees. No report of landslide or flooding has been received so far.

According to the Hospital Authority, as at 2am today, no people have sought medical treatment at the Accident and Emergency Departments at public hospitals during the typhoon period.