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Bahamas Registered Stock IPO November 2019
Published: Monday November 4th, 2019
PROSPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2049 ISSUE OF B$10,000,000 ISSUED
UNDER THE BAHAMAS REGISTERED STOCK ACT
Prospectus Date: October 29, 2019
|
Issuer: |
Bahamas Government |
Open Date: |
November 11, 2019 (9:30 a.m.) |
|
Registrar: |
Central Bank of The Bahamas |
Close Date: |
November 13, 2019 (3:00 p.m.) |
|
Organizer: |
Central Bank of The Bahamas |
Settlement: |
November 15, 2019 |
|
First Int Pmt: |
April 15, 2020 (short) |
||
|
Calendar: |
Actual/365 |
Allocation: Securities will be awarded in accordance with the Central Bank's priority level allocation process, with priority given to individual applications in amounts up to $250,000. All other applications-individuals greater than $250,000 and institutions-will be classified as Priority Level 2 and may result in a proration in the event of an oversubscription.
| Security ID | Issue Size (B$) | Unit Share (B$) | Tenor (Years) | Interest (Fixed) | Maturity | Interest Payment |
|---|---|---|---|---|---|---|
| BGR132149 | 10,000,000.00 | 100 | 30 | 5.65% | October 15, 2049 |
Semi-annual |
| 10,000,000.00 |
CENTRAL BANK OF THE BAHAMAS SECONDARY MARKET RELEASE OF
16,638,300 BAHAMAS REGISTERED STOCK 2039
Under the same Open, Close, and Settlement Dates as above
Allocation:Securities will be awarded on a "first come, first serve" basis.
| Security ID | Amount Released (B$) | Market Price (B$) | Tenor (Years) | Interest (Fixed) | Maturity | Interest Payment |
|---|---|---|---|---|---|---|
| BGR132039 | 16,638,300.00 | 100 | 20 | 5.29% | October 15, 2039 | Semi-annual |
| 16,638,300.00 |
Accrued Interest per Bond: $0.4493Example:
You buy 100 bonds ($10,000 face value)
Step 1: Calculate accrued interest (100 bonds x $0.4493 = $44.93)
Step 2: Calculate principal cost (100 bonds x $100.00 = $10,000.00)
Step 3: Calculate total due ($44.93 + $10,000.00 = $10,044.93)
GENERAL INSTRUCTIONS:
Payments: Subscription amounts should be made electronically or via bank draft, payable to the Central Bank of The Bahamas only. CASH PAYMENTS WILL NOT BE ACCEPTED.
Requirements: (1) Bahamian E-Passport; or (2) NIB Smart Card paired with one of the following: Bahamian Driver's License, National Identity Card, Permanent Residence Permit, other National Passport, or Spousal Permit. New Business customers must present a list of its authorized signatories along with Memorandum/Articles of Association.
Refunds: Refunds will be made within three business days following the settlement date. No interest will be paid on amounts refunded.
Certificates: Results will be made available on the Central Bank's website, and successful applicants can collect their certificates from the Central Bank 30 calendar days following settlement.
The Central Bank of The Bahamas will not accept applications after 3:00 p.m. each day. The Central Bank reserves the right to offer additional securities for sale in the event of an oversubscription.Application forms may be obtained from the Central Bank of The Bahamas' offices in Nassau or from the Central Bank's website at www.centralbankbahamas.com. Additional details are also available on the website.