As announced by the Minister for Finance on 1st August, the Accountant General is launching the issue of €50,000,000 of the 62+ Malta Government Savings Bond, subject to an over-allotment option of an additional amount up to a maximum of €20,000,000. This Bond is being offered for the elderly born during the year 1955 or before.
The 62+ Malta Government Savings Bond earns interest at a fixed rate of 3% per annum for the whole five-year term of the Bond maturing in the year 2022. The Bond, which will be issued at par in units of €100 cannot be negotiated, assigned or transferred onto any other individual and cannot be pledged.
Interest is paid semi-annually in arrears on the 13th March and 13th September during the term of the Bond. Bondholders may withdraw the whole amount invested before the maturity date subject to a penalty equivalent to 3 months gross interest on the principal withdrawn at the interest rate the Bond is earning.
Applications from eligible investors for a minimum amount of €500 up to a maximum of €10,000 per person open on Monday 4th September 2017 at 8.30 a.m. and close at 5.00 p.m on Wednesday 6th September 2017, or earlier at the discretion of the Accountant General. Subscriptions in the bond are to be made in the sole name of the applicant.
The application form may be obtained from and lodged at all authorised financial institutions and other authorised investment service providers. The application form may also be downloaded from the Treasury’s website with effect from Tuesday 29th August, 2017.
More information can be found in the prospectus which is now available and can be downloaded from the Treasury’s website at www.treasury.gov.mt.