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FG Savings Bond Offer for December 2017 Opens

Proshare

Monday, Nov 20, 2017 4:33PM/ Meristem Research

 

The Federal Government of Nigeria Savings Bond offer for December opens today the 4th of December 2017 and will remain open for five days till the 8th of December 2017. Subsequently, the Debt Management Office has announced that the bonds will be offered at the following rates: 
·         2-Year FGN Savings Bond due December 13, 2019: 11.738%

·        
3-Year FGN Savings Bond due December 13, 2020: 12.738%

Features of the FGN Savings Bond

 

Features

Offer Period

4th– 8th December, 2017

Tenor

2 and 3 years

Coupon

11.738% for 2years, 12.738% for 3 Years

Coupon Payments

Quarterly (4 times a year)

Subscription Amount

Minimum: N5,000

 

Maximum: N50,000,000

Additional Subscription

In multiples of N1,000

Secondary Market

Tradable on the Nigerian Stock Exchange (NSE)

Redemption

Principal repayment on the maturity date

Subsequent Offers

First week of every month

Tax on Interest

Interests are tax free

Capital Repayment

Guaranteed

Settlement Date

December 8th 2017

 
 To invest in the FGN Savings Bond:

·         Download and complete the subscription form.

·        
Make payment into the accounts of your broker

·        
Scan and send a copy of the completed form, along with a mandate to subscribe for the FGN Savings Bond to your broker.

·        
If you do not have a CSCS account, kindly open one.

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