Interest rate of sixth interest payment for Silver Bond Series due 2024

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (July 29) the relevant per annum interest rate for the sixth interest payment of Silver Bond Series due 2024 (Issue Number 03GB2408R) (the Bonds) issued under the Retail Bond Issuance Programme of the Government Bond Programme.
      
     According to the Issue Circular dated June 29, 2021, for the Bonds, the sixth interest payment of the Bonds is scheduled to be made on August 12, 2024 (Note), and the relevant interest rate is scheduled to be determined and announced on July 29, 2024, as the higher of the prevailing Floating Rate and Fixed Rate. 
      
     On July 29, 2024, the Floating Rate and Fixed Rate are as follows:
 

 
     Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the sixth interest payment is determined and announced as 3.50 per cent per annum.

Note: The original sixth interest payment was on August 10, 2024 (Saturday). As the aforesaid payment date is not a business day in Hong Kong under the definition of the Issue Circular, the interest payment date will be rescheduled to August 12, 2024, i.e., the next day business day in Hong Kong in accordance with the aforesaid Circular. The interest will be accrued to August 12, 2024, the new payment date.