Tender of 2-Year Exchange Fund Notes to be held on August 16

The Hong Kong Monetary Authority will hold a tender of 2-year Exchange Fund Notes on August 16, 2011 for settlement on August 17, 2011.

A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the Public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited. If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender, initially set at HK$1,195 million. The Notes will mature on August 19, 2013 and will carry interest at the rate of 0.26% per annum payable semi-annually in arrears.