LTNCDs are negotiable certificates of deposit with a designated maturity, and represents a bank’s obligation to pay the face value upon maturity, with periodic coupon or interest payments during the life of the deposit. LTNCDs are covered by deposit insurance with the PDIC up to a maximum amount of P500,000.00 per depositor.
The LTNCDs will carry a maturity of seven (7) years. The indicative coupon rate will be based on the prevailing 7-year PDST-F benchmark, and will be finalized at the end of the offer period. Interest will be paid quarterly and will be tax exempt for individual investors if held for more than five years. The minimum investment is P 100,000.00 with increments of P50,000.00. The offer period is from 26 September to 5 October 2012 with the issue date set for 15 October 2012. BDO however reserves the right to adjust the timing of the offer as needed.
Deutsche Bank AG, Manila Branch (DB) and The Hongkong and Shanghai Banking Corporation Limited (HSBC) are the Joint Lead Arrangers and Selling Agents for the LTNCD, while BDO and BDO Private Bank are the other selling agents.
About BDO
BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including Lending (corporate, middle market, SME, and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage, and Stock Brokerage services.
BDO has one of the largest distribution networks, with more than 750 operating branches and over 1,700 ATMs, nationwide. As of 30 June 2012, BDO is the country’s largest bank in terms of total resources, customer loans, total deposits and assets under management. For more information, please visit www.bdo.com.ph.
- https://www.affordablecebu.com/