New BOV Note Issue

February 23, 2016
|In Product News
|By Jesmond Mizzi Financial Advisors

Bank of Valletta p.l.c has announced the issuance of €50,000,000 subordinated notes maturing in 2030. The bond will offer a coupon of 3.5% per annum and will be issued at a price of €100 per bond.

Jesmond Mizzi Financial Advisors Ltd is participating in this issue as joint sponsors to the issue and authorised financial intermediaries and is currently accepting applications for this bond. This issue will be split into two series, Series 1/2016 Tranche 2 Notes, will have a minimum application amount of EUR 25,000 while Series 2/2016 Tranche 2 will be subject to a minimum application of EUR 5,000.

Up to EUR 39,908,600 of the EUR 50,000,000 is being reserved to those investors whose applications were scaled down in the First Issue and were not allotted the full amount applied for (Scaled Down applicants).  Each investor will be entitled to a particular amount within the Reserved Amount which amount will be in Tranche 2 of the same Series that they had applied for in Tranche 1.

Cheques are to be made payable to The Registrar – BOV Notes Issue 2016. All clients should refer to the Prospectus dated 16 October 2015 which may be obtained electronically by e-mail on request or by viewing our website www.jesmondmizzi.com.

Since the investment in the Notes may not be suitable or appropriate for all investors, we urge you to consult your investment advisor at Jesmond Mizzi Financial Advisors. The closing date for the Subscription Notes by the Scaled Down applicants is on the 18th March 2016, while the bond will be opening to the general public on 14th March 2016.

You may contact us by phone on freephone number 8007 2206 or speak to our Investment Advisors at one of our branches in Valletta, Hamrun, Birkirkara,St. Paul’s Bay or Ta’ Xbiex (by appointment).We will be pleased to answer any queries you may have on this issue and assist in the completion of all the necessary forms at one of our offices.

Since Subordinated Notes are considered as a complex instrument, application forms are not being sent out as your advisor will assess the suitability and appropriateness of the Notes to be included in your portfolio of investments. Preferred applicants who have received an application form from the Issuer need to bring this form when meeting our advisors.