DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF EURO 40,000,000 MALTA GOVERNMENT STOCKS

ISSUE OF EURO 40,000,000

MALTA GOVERNMENT STOCKS

SUBSIDIARY LEGISLATION 161.134

DIRECTIVE BY THE MINISTER FOR FINANCE

FOR THE ISSUE OF EURO 40,000,000

MALTA GOVERNMENT STOCKS

14th October, 2014

LEGAL NOTICE 381 of 2014.

The title of this directive is Directive by the Minister for

Finance for the issue of Euro 40,000,000 Malta Government

Stocks.

An amount of Euro 40,000,000 Malta Government Stocks

shall be issued as follows

(a) 4.1% Malta Government Stock 2034 (I) Fungibility

Issue, and

(b) Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor, or

(c) any combination of the above two Stocks which shall

in the aggregate be Euro 40,000,000.

These Stocks shall be issued as set out in the relative

prospectus regulating the issuance of

(a) 4.1% Malta Government Stock 2034 (I) Fungibility

Issue; and

(b) Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor.

All persons and, or entities are eligible to apply for these

Stocks. Allotment will be applied as set out in the relative

prospectus.

(1) In terms of the Financial Markets Act, when these

Stocks have been allotted, an application shall be made for the

respective Stock to be placed on the official list and for trading on

the Malta Stock Exchange.

(2) On the 18th April, 2015 after the payment of the first

interest as indicated in article 7(1), any amount allotted under the

4.1% Malta Government Stock 2034 (I) F.I. shall be integrated with

the existing issue of this Stock and thereafter shall be deemed to be

one Stock.

The sum of money to be raised by either Stock, or of any

combination of the two Stocks shall in the aggregate be Euro

40,000,000. The Accountant General reserves the right to increase

the sum of money to be raised by a maximum of Euro 35,000,000.

(1) Interest at the rate of Euro 2.05 for every Euro 100 in

respect of the 4.1% Malta Government Stock 2034 (I) shall be

payable half-yearly in arrears on the 18th day of April and the 18th

ISSUE OF EURO 40,000,000

MALTA GOVERNMENT STOCKS

day of October in every year for the duration of the Stock.

The first pro rata interest payment covering the period from

the 29th day of October, 2014 to the 17th day of April, 2015 (both

dates inclusive), shall be made on the 18th day of April, 2015.

(2) Interest on the Floating Rate Malta Government Stock 2020

(VI) linked to the six-month Euribor shall be paid at the rate linked

to the six-month Euribor issued by the European Money Markets

Institute (EMMI) in effect on the applicable interest determination

date, plus a spread of 75 basis points (bps) calculated on Day Count

Fraction (Actual/360) for every Euro 100. The spread of 75 bps is

fixed and applicable until the maturity of the Stock.

(3)

(a) Interest on the Floating Rate Malta Government Stock

2020 (VI) linked to the six-month Euribor shall be

payable half yearly in arrears on the 29th of April and

the 29th of October in every year for the duration of

the Stock.

(b) The first interest payment in respect of the Stock

mentioned in sub-article (2) covering the period from

the 29th October, 2014 to the 28th April, 2015 (both

days inclusive) shall be made on the 29th day of April,

2015.

(1) The 4.1% Malta Government Stock 2034 (I) shall be

redeemed at par on the 18th October, 2034.

(2) The Floating Rate Malta Government Stock 2020 (VI)

linked to the six-month Euribor shall be redeemed at par on the

29th October, 2020.