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The Series I bond is a 15-year instrument which pays interest and principal quarterly over the life of the bond.

The terms and conditions are as follows:

 

GOVERNMENT OF BARBADOS SERIES I BOND 

Terms and Conditions Issuer:

Government of Barbados

Deemed date of allotment:

1 July 2019

Interest:

Interest shall be calculated on the basis of the actual number of days elapsed and a 365-day year

Interest rate:

0.25% per annum

Interest payment:

Quarterly

Maturity date:

15 years from the deemed date of allotment

Repayment:

Principal to be repaid in sixty equal quarterly instalments beginning three months after allotment date

Series ‘I’ Bonds:

The Series I Bonds are repayable in whole or in part at any time

Natural disaster clause:

Yes

 

An illustration of the timing of interest and principal payments follows:

Year

Interest Rate

Principal Repayments

1

0.25%

1/60 of principal paid each quarter

2

0.25%

1/60 of principal paid each quarter

3

0.25%

1/60 of principal paid each quarter

4

0.25%

1/60 of principal paid each quarter

5

0.25%

1/60 of principal paid each quarter

6

0.25%

1/60 of principal paid each quarter

7

0.25%

1/60 of principal paid each quarter

8

0.25%

1/60 of principal paid each quarter

9

0.25%

1/60 of principal paid each quarter

10

0.25%

1/60 of principal paid each quarter

11

0.25%

1/60 of principal paid each quarter

12

0.25%

1/60 of principal paid each quarter

13

0.25%

1/60 of principal paid each quarter

14

0.25%

1/60 of principal paid each quarter

15

0.25%

1/60 of principal paid each quarter

Any Questions?
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