Communication A 1478: Issuance of Bonos en Australes 1988 - 2nd Series for Cancellation of Treasury-Guaranteed Obligations — BCRA — AR

CENTRAL BANK OF THE ARGENTINE REPUBLIC

COMMUNICATION "A" 1478
03/07/89

TO FINANCIAL INSTITUTIONS AND THE SECURITIES MARKET:

Ref.: Circular National Public Securities - TINAC - 1

154. Issuance of "Bonos en Australes 1988 -
2nd Series - Cancellation of Obligations Guaran- teed by the Treasury".

We address you to inform you that, in accordance with the provisions of Decree 240/89, this Bank proceeded to issue - at the request of the Secretary of Finance - "Bonos en Australes 1988 - 2nd Series - Cancellation of Obligations Guaranteed by the Treasury" with the following characteristics:

1. Amount: A 2.286.727.000.

2. Issue date: 31.10.88.

3. Term: 5 years, including one and a half years (1,1/2) of grace.

4. Amortization: It will be made in seven (7) semiannual installments. The first six (6) of fourteen percent (14%) and the last of sixteen percent (16%). The first amortization will be made on 31.10.90.

5. Adjustment clause: The nominal value of the capital will be adjusted by the variation experienced by the Financial Index prepared by this Bank, point 3.1.2. of Chapter II of Circular OPRAC - 1, text according to Communication "A" 1097 or the one that replaces it, between the FIFTH (5th) business day prior to the maturity of each period and the FIFTH (5th) business day prior to the issue date.

6. Interest: The Bonds will accrue a rate of one percent (1%) effective monthly on the capital adjusted as indicated in the previous point. Interest will be paid semiannually. The first service will operate on 31.10.89.

In addition to the provisions, the Bonds will have the following characteristics:

Tax exemptions: the interest and adjustments from these securities are exempt from Income Tax, except with respect to subjects that apply inflation adjustment.
Ownership: they will be bearer.

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Cayetano I. Peroni
Submanager of
Public Finance
José A. Uriarte
General Submanager

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Issued under

Decree No. 240 of 1989Not in RegAlert
“in accordance with the provisions of Decree 240/89, this Bank proceeded to issue”