July 3, 2017/Cordros Research
The FGN Savings Bonds Offer opened today July 3, 2017
Below are the details:
| 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 13.386% (2-year) & 14.386% (3-Year). Interest payments are tax exempt. |
| 3. | Liquidity | Clients can easily buy or sell in the secondary market. |
| 4. | Maturity | July 12, 2019 & July 12, 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).- Settles July 12. |
| 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 | It is offered once every month. |
| 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). |
INVESTING PROCEDURE
- Print and fill the portions of the FGN Savings Bond application form relevant to you.
- Ensure you have a CSCS Account Number in a Stock broking Firm and a bank account with valid BVN.
