Exchange Fund Notes Tender Result

Tender date                      :   16 May 2014

Paper on offer                   :   EF Notes

Issue number                     :   02Y1605

Issue date                       :   19 May 2014

Maturity date                    :   19 May 2016

Coupon                           :   0.42%

Competitive Tender Result

Amount applied                   :   HK$6,790 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   100.10 (0.37 PCT)

Lowest price accepted (yield)    :   100.08 (0.38 PCT)

Pro rata ratio                   :   About 9%

Average tender price (yield)     :   100.06 (0.39 PCT)

Non-competitive Tender Results(for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   0

Amount allotted                  :   0

Allotment Price (yield)          :   NIL

End/Friday, 16 May, 2014
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