Exchange Fund Notes Tender Result

Tender date                      :   5 December 2014

Paper on offer                   :   EF Notes

Issue number                     :   10Y2412

Issue date                       :   8 December 2014

Maturity date                    :   9 December 2024

Coupon                           :   1.84%

Competitive Tender Result

Amount applied                   :   HK$3,449 MN

Amount allotted                  :   HK$800 MN

Average price accepted (yield)   :   100.80 (1.76 PCT)

Lowest price accepted (yield)    :   100.75 (1.77 PCT)

Pro rata ratio                   :   About 16%

Average tender price (yield)     :   100.68 (1.77 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, 5 December, 2014
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