TERM SHEET FOR GOVERNMENT OF JAMAICA
FIXED RATE US$ INDEXED BOND ISSUE
ISSUER Government of Jamaica
AUTHORITY The Local Registered Stock Act and the
Loan Act, 1964 as amended.
OFFER VOLUME Unlimited, payable in Jamaica dollars
PURPOSE To finance the Government’s budgetary
SUBSCRIPTION DATE May 22, 2003
EXCHANGE RATE FOR The 10-day moving average selling rate
CONVERSION OF SUBSCRIPTION applicable on May 08, 2003 as published by
AMOUNT the Bank of Jamaica, which is
TENURE 21 months
MATURITY February 22, 2005
INTEREST RATE Fixed at 12.00% p.a.
INTEREST PAYMENT First payment on November 22, 2003.
Thereafter, interest will be paid semi-
annually on May 22, and November 22 of
each year, until maturity on February 22,
2005. The final interest payment will cover
the period August 22, 2004 to February 22,
2005, and will be made on February 22,
CURRENCY OF PAYMENT All payments of principal and interest to be
made in Jamaica dollars.
RATE OF EXCHANGE FOR PAYMENT The 10-day BOJ moving average selling rate
multiplied by a factor of 1.002. The
applicable moving average rate shall be the
rate existing on the tenth business day
immediately prior to the due date of
payment, or the next nearest business day not
later than 10 business days prior to the due
date of payment.
INSTRUMENT TYPE Registered and transferable
PRUDENTIAL Will not qualify as a liquid asset.
BUSINESS DAY In the event that a payment day occurs on a
day other than a business day, such payments
will be made on the business day preceding
COMMISSION 10 Cents per J$100
REGISTRAR & PAYING AGENT Ministry of Finance & Planning
Debt Management Unit,
Ministry of Finance & Planning,
May 19, 2003