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Type of Investment
Fixed income investment where your capital and interest are guaranteed
Interest Rate
Interest payments are tax exempt.
Tenor
2 years and 3 years respectively
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Annual Coupon
Coupon Rate (2 – Year Savings Bond): 12.059% per annum
Coupon Rate (3 – Year Savings Bond): 13.059% per annum
Relevant Dates
Opening Date: 09 October , 2017
Closing Date: 13 October, 2017
Settlement Date: 18 October , 2017
Due Dates
2 – Year FGN Savings Bond due 18 October, 2019
3 – Year FGN Savings Bond due 18, October, 2020
Coupon/Interest Payment
Coupon will be paid quarterly (every 3 month) in arrears while the principal will be paid at maturity together with the last coupon.
Coupon Payment Date
January 18, April 18, July 18, October 18
Transfer and Custody Agent
Central Securities Clearing System (CSCS)
Settlement
Bond holders will have their holdings credited into their CSCS account
Subscription Amount
Minimum of N5,000 plus multiples of N1,000 and maximum of N50,000,000
Subscription Tenor
The offer shall be open to investors for 5 days including the day the offer is announced and the date of closure
Listing
The FGN Savings Bond will be listed and is traded on the Nigerian Stock Exchange (NSE)
Auction and Frequency of Issuance
The auction opened on Monday 09 October 2017and will close on Friday 13 October, 2017.
Collateral
Can be used as collateral to access loans from banks
Safety
The FGN Savings Bond is backed by the full faith of the Federal Government
Subscription Mode
Investors are to subscribe through Stockbroking firms accredited by the DMO to act as Distribution Agents (DAs).
