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Press Releases

Tender of 5-Year Exchange Fund Notes to be held on Wednesday, 24 September 2003

The Hong Kong Monetary Authority (HKMA) announces that tender of 5-year Exchange Fund Notes will be held on Wednesday, 24 September 2003 for settlement on Thursday, 25 September 2003.

An amount of HK$600 million 5-year Notes will be on offer solely for competitive tender. The Notes will mature on 25 September 2008 and will carry interest at the rate of 3.27% per annum payable semi-annually in arrears.

Members of the public who wish to tender for the Notes may do so through any of the Market Makers or Recognised Dealers on the published list, which can be obtained from the HKMA at 30/F, 3 Garden Road, Hong Kong (telephone 2878 1465), or from the HKMA's website at http://www.hkma.gov.hk. They may also submit their tender applications through brokers who are Exchange Participants of the Stock Exchange of Hong Kong via Hong Kong Securities Clearing Company Limited (HKSCC) or, for those who hold Investor Accounts at HKSCC, directly through HKSCC. HKSCC will collect tender applications from its participants and submit them to the HKMA for processing. Each tender must be for an amount of HK$50,000 or integral multiples thereof.

The tender results will be published on the HKMA's website, the Reuters screen (HKMAOOE), Bloomberg, the Telerate screen (9913), the Bridge News screen and CCASS terminal for CCASS Broker/Custodian/Participants. CCASS Investor Participants can also enquire about the tender results through the CCASS Phone System.

Hong Kong Monetary Authority
15 September 2003

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION

______________________________________________________
Tender information of 5-Year Exchange Fund Notes :-

Issue Number           : 5809

Stock code             : 4114 (EFN 3.27 0809)

Tender Date            : Wednesday, 24 September 2003
and Time                 9:30 a.m. to 10:30 a.m.

Issue and Settlement   : Thursday, 25 September 2003
Date

Amount on Offer        : HK$600 million
                        (solely for competitive
                         tender)

Maturity               : Five years

Maturity Date          : 25 September 2008

Interest Rate          : 3.27% p.a.

Interest Payment Dates : 25 Mar 2004
                         27 Sept 2004
                         25 Mar 2005
                         26 Sept 2005
                         27 Mar 2006
                         25 Sept 2006
                         26 Mar 2007
                         25 Sept 2007
                         25 Mar 2008
                         25 Sept 2008

Tender Amount          : Each tender must be for
                         an amount of HK$50,000 or
                         integral multiples thereof.
                         Members of the public who
                         wish to tender for the Notes
                         may approach Market Makers or
                         Recognised Dealers on the
                         published list, Hong Kong
                         Securities Clearing Company
                         Limited, or brokers who are
                         Exchange Participants of the
                         Stock Exchange of Hong Kong
 
Other details          : Please see Information
                         Memorandum published or
                         approach Market Makers,
                         Recognised Dealers, Hong Kong
                         Securities Clearing Company
                         Limited, or brokers who are
                         Exchange Participants of the
                         Stock Exchange of Hong Kong

Expected commencement  : 26 September 2003
date of dealing on
the Stock Exchange
of Hong Kong

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

Yield-to-Maturity Price Yield-to-Maturity Price
2.27 104.76 3.27 100.12
2.32 104.52 3.32 99.90
2.37 104.29 3.37 99.67
2.42 104.05 3.42 99.45
2.47 103.81 3.47 99.22
2.52 103.58 3.52 99.00
2.57 103.34 3.57 98.78
2.62 103.11 3.62 98.56
2.67 102.87 3.67 98.34
2.72 102.64 3.72 98.12
2.77 102.41 3.77 97.90
2.82 102.18 3.82 97.68
2.87 101.95 3.87 97.46
2.92 101.72 3.92 97.24
2.97 101.49 3.97 97.02
3.02 101.26 4.02 96.81
3.07 101.03 4.07 96.59
3.12 100.80 4.12 96.38
3.17 100.57 4.17 96.16
3.22 100.35 4.22 95.95
3.27 100.12 4.27 95.73
 
* 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.

Hong Kong Monetary Authority
15 September 2003
Last revision date: 1 August 2011
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