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Source: Hong Kong Government special administrative region

Tender of 2-Year Exchange Fund Notes to be held on November 20
Tender of 2-Year Exchange Fund Notes to be held on November 20
**************************************************************

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 20 (Friday), and for settlement on November 23 (Monday), as set out in the tentative issuance schedule announced on August 14, 2020. 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 23, 2022 and will carry interest at the rate of 0.11 per cent 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 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.HKMA Exchange Fund Note Programme Tender Information________________________________________________Tender information of 2-Year Exchange Fund Notes: 

Issue Number
:
02Y2211 
Stock code
:
4082(EFN 0.11 2211) 
Tender date and time
:
November 20, 2020 (Friday)9.30 am to 10.30 am 
Issue and Settlement Date 
:
November 23, 2020 (Monday) 
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
:
November 23, 2022 (Wednesday) 
Interest Rate
:
0.11 per cent p.a. 
Interest Payment Dates
:
May 24, 2021November 23, 2021May 23, 2022November 23, 2022 
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
:
November 24, 2020 (Tuesday)

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

Yield-to- Maturity
Price
Yield-to-Maturity
Price
-0.890
102.03
0.110
100.00
-0.840
101.92
0.160
99.90
-0.790
101.82
0.210
99.80
-0.740
101.72
0.260
99.70
-0.690
101.62
0.310
99.60
-0.640
101.51
0.360
99.50
-0.590
101.41
0.410
99.40
-0.540
101.31
0.460
99.31
-0.490
101.21
0.510
99.21
-0.440
101.11
0.560
99.11
-0.390
101.01
0.610
99.01
-0.340
100.90
0.660
98.91
-0.290
100.80
0.710
98.81
-0.240
100.70
0.760
98.72
-0.190
100.60
0.810
98.62
-0.140
100.50
0.860
98.52
-0.090
100.40
0.910
98.42
-0.040
100.30
0.960
98.32
0.010
100.20
1.010
98.23
0.060
100.10
1.060
98.13
0.110
100.00
1.110
98.03

 * 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/Wednesday, November 11, 2020Issued at HKT 17:00

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