Bahamas Savings Bond (BSB) Prospectus November 2024

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Bahamas Savings Bond (BSB) Prospectus November 2024

Published: Wednesday November 13th, 2024

PROSPECTUS

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS BAHAMAS SAVINGS BOND 2025, 2026, 2028, AND 2030 ISSUE OF B$5,000,000 ISSUED UNDER THE PUBLIC DEBT MANAGEMENT ACT, 2021

Prospectus Date: 13th November, 2024

Issuer:	Bahamas Government	Open Date:	21st November, 2024 (9:30 a.m.)
Registrar:	Central Bank of The Bahamas	Close Date:	22nd November, 2024 (3:00 p.m.)
Organizer:	Central Bank of The Bahamas	Settlement:	25th November, 2024
Minimum:	$100	First Int. Pmt:	25th May, 2025
Increment:	$100	Calendar:	Actual/365

Security ID	Issue Size	Can Grow/ Shrink?	Unit Share (B$)	Tenor (Years)	Interest Fixed	Maturity	Interest Payment
BSBSB0010259	$1,500,000	Yes	100	1	2.81%	25-Nov-25	Semi-annual
BSBSB0010267	$1,000,000	Yes	100	2	3.01%	25-Nov-26	Semi-annual
BSBSB0010283	$1,000,000	Yes	100	4	3.43%	25-Nov-28	Semi-annual
BSBSB0010309	$1,500,000	Yes	100	6	3.99%	25-Nov-30	Semi-annual
	$5,000,000	Yes

Instructions for participation in this Initial Public Offering are outlined below.

Participation: Only available at Central Bank of The Bahamas. The minimum bid is $100 with an upper limit of B$50,000. Prospective investors (individuals only) are to submit applications via the Bahamas Securities Portal with funds wired/transferred to the Central Bank no later than 3:00 p.m. on the Close Date.

Applications for Individual Customers

Submit the application via the BRS Application Portal (enrolment required). New and existing individual investors may enroll and submit an application by visiting the following link: https://submissions.centralbankbahamas.com/bgrsapplication/login OR
Payment: Subscription payments may be made electronically via commercial banks or digitally via SandDollar in accordance with the settlement instructions are below.
- Bank Wire Information:
  Beneficiary Bank: Central Bank of The Bahamas
  BIC: CBBHBSNS(XXX)
  Account: CBOB General Account 1315010051
  Branch Code: 10000 (if applicable)
  Details:

Applicant Name + NIB Number + BSB Application (e.g. John Doe NIB#12345 BSB Application)

Central Bank Digital Currency Sand Dollar Information:
Direct payments to Receiver’s Custom Name (alias): CBOBBanking@sanddollar.bs
KYC/ID: (1) Bahamian E-Passport or
(1) NIB Smart Card paired with one of the following: Bahamian Driver’s License, National Identity Card, Permanent Residence Permit, other National Passport, or Spousal Permit.

Grow/Shrink

Each security in this offering has the capacity to grow or shrink based on the total subscriptions received for each tenor. The entire offer also has the capacity to grow or shrink, commensurate with overall demand. The issuer maintains the right to cap the offer at its sole discretion.

Refunds

All refunds will be disbursed within three business days following the settlement date.

Certificates

Successful applicants will receive an electronic copy of their allotments, via email, within three business days following settlement.

Institutional Investors

Are unable to participate.

Bahamas Savings Bond