Interest rate of third interest payment for Silver Bond Series due 2025

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 (February 29) the relevant per annum interest rate for the third interest payment of Silver Bond Series due 2025 (Issue Number 03GB2509R) (the Bonds) issued under the Retail Bond Issuance Programme of the Government Bond Programme.
      
     According to the Issue Circular dated August 9, 2022, for the Bonds, the third interest payment of the Bonds is scheduled to be made on March 14, 2024, and the relevant interest rate is scheduled to be determined and announced on February 29, 2024, as the higher of the prevailing Floating Rate and Fixed Rate.   
      
     On February 29, 2024, the Floating Rate and Fixed Rate are as follows:

Floating Rate: +2.20 per cent (Annex)
Fixed Rate: +4.00 per cent

     Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the third interest payment is determined and announced as 4.00 per cent per annum.