Exchange Fund Notes Tender Result

Tender date                      :   17 November 2015

Paper on offer                   :   EF Notes

Issue number                     :   02Y1711

Issue date                       :   18 November 2015

Maturity date                    :   20 November 2017

Coupon                           :   0.42%

Competitive Tender Result

Amount applied                   :   HK$4,080 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   99.85 (0.50 PCT)

Lowest price accepted (yield)    :   99.83 (0.51 PCT)

Pro rata ratio                   :   About 10%

Average tender price (yield)     :   99.75 (0.55 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/Tuesday, 17 November, 2015
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