May 8, 2017/Cordros Research
This is to notify you of the FGN Savings Bond Offer opening today.
Kindly find the features below, and download the subscription form here. The Offer closes Friday, May 12, 2017.
| S/N | Subject | Features |
| 1 | Investment type | Fixed income investment – Capital and Interest are guaranteed if held to maturity. |
| 2 | Interest Rate (Coupon) | Coupon is 13.189% (2-year) & 14.189% (3-Year). Interest payments are tax exempt. |
| 3. | Liquidity | Clients can easily buy or sell in the secondary market. |
| 4. | Maturity | May 17, 2019 & May 17, 2020 |
| 4 | Tenors | 2 & 3 years |
| 5 | Coupon/Interest Payment | It is paid quarterly. Principal will be paid at maturity together with the last coupon (interest payment). |
| 6 | Transfer and Custody Agent | Central Securities Clearing System (CSCS) |
| 7 | Settlement Date | Transaction day plus three days (T+3). |
| 8 | Settlement | It will be credited to Bond’s holder CSCS account. |
| 9 | Subscription Amount | Minimum of N5,000 plus multiples of N1,000 and maximum of N50,000,000 |
| 10 | Subscription Tenor | The offer shall be open to investors for 5 days including the day the offer is announced and the date of closure |
| 11 | Modality of subscription | Investors are to subscribe through stock broking firms accredited by the DMO to act as Distribution Agents (Cordros Capital is one of the DMO accredited stock broking firms) by filling the form in the above link and sending it back. |
| 12 | Auction and Frequency of Issuance | The offer will open on the 8th of May and close on May 12, 2017. Settlement date is May, 17 2017. |
| 13 | Offer Size | DMO determines this at every auction. |
| 14 | Listing | The FGN Savings Bond will be listed and tradable on the Nigerian Stock Exchange (NSE). |
