62+ Malta Govern­ment Sav­ings Bond – Is­sue 2018

The Malta Business Weekly - - FRONT PAGE -

As an­nounced by Min­is­ter for Fi­nance Ed­ward Sci­cluna, the Ac­coun­tant Gen­eral is launch­ing the is­sue of €65,000,000 of the 62+ Malta Govern­ment Sav­ings Bond, which may be in­creased by an ad­di­tional max­i­mum amount of €35,000,000 in the event that de­mand ex­ceeds the amount on is­sue. This bond is be­ing of­fered to in­di­vid­u­als born in 1956 or prior.

The 62+ Malta Govern­ment Sav­ings Bond earns in­ter­est at a fixed rate of 3% per an­num for the whole five-year term of the bond, ma­tur­ing in the year 2023. The bond, which shall be is­sued at par and in units of €100, can­not be ne­go­ti­ated, as­signed or trans­ferred onto any other in­di­vid­ual and can­not be pledged.

In­ter­est is paid semi-an­nu­ally in ar­rears on 19th June and 19th De­cem­ber dur­ing the term of the bond. Bond­hold­ers may with­draw the whole amount in­vested be­fore the ma­tu­rity date sub­ject to a penalty equiv­a­lent to three months gross in­ter­est on the prin­ci­pal with­drawn at the in­ter­est rate the bond is earn­ing.

Ap­pli­ca­tions from el­i­gi­ble in­vestors for a min­i­mum amount of €500 up to a max­i­mum of €8,000 per per­son open on Mon­day 11th June at 8.30am and close on Tues­day 12th June at 5pm, or ear­lier at the dis­cre­tion of the Ac­coun­tant Gen­eral. Sub­scrip­tions in the bond are to be made in the sole name of the ap­pli­cant.

New el­i­gi­ble ap­pli­cants in the 62+ Malta Govern­ment Sav­ings Bond made up of (i) in­di­vid­u­als born in 1956, and (ii) in­di­vid­u­als who were el­i­gi­ble but did not par­tic­i­pate in last year’s is­suance, may ob­tain and lodge the ap­pli­ca­tion form at the au­tho­rised fi­nan­cial in­sti­tu­tions and au­tho­rised in­vest­ment ser­vice providers or down­load the ap­pli­ca­tion from the Trea­sury De­part­ment’s web­site at www.trea­sury.gov.mt. The al­lo­ca­tion pol­icy shall give pref­er­ence to this cat­e­gory of ap­pli­cants.

In­di­vid­u­als who par­tic­i­pated in the 62+ Malta Govern­ment Sav­ings Bond is­suances held in Septem­ber or Oc­to­ber 2017 are also el­i­gi­ble to ap­ply. To this ef­fect, they shall be re­ceiv­ing an in­for­ma­tion let­ter and an ap­pli­ca­tion form with their own de­tails from the Ac­coun­tant Gen­eral. Those in­di­vid­u­als who are in­ter­ested in ap­ply­ing for this new 62+ Sav­ings Bond may lodge their ap­pli­ca­tion form at the Au­tho­rised Fi­nan­cial In­sti­tu­tions or Au­tho­rised In­vest­ment Ser­vice Providers. More in­for­ma­tion can be found in the prospec­tus, which can be down­loaded from the Trea­sury’s web­site at www.trea­sury.gov.mt.

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