Retail Treasury Bonds

Invest in RTBs for as low as PHP5,000

The 29th Tranche of Retail Treasury Bonds (“RTB”) (“RTB29”) form part of the National Government’s program to make government securities available to retail investors.

Benefits to Investors:

Sovereign Backing. RTBs are peso-denominated investment securities issued by the Republic of the Philippines. Investments in RTBs are direct obligations of the Republic and are thus considered Investment grade.

Affordable. RTBs are affordable investments with a minimum placement amount of PHP5,000.

Frequent Interest Payments. RTBs pay interest quarterly.

Relatively Higher Yield. RTBs offer relatively higher yields compared to savings and deposit instruments.

Convenient. RTBs can be purchased from any of the Selling Agent banks. Investors can even use their existing savings account as the settlement account for the placement of RTBs and receipt of interest.

Negotiable and Transferrable. RTBs have an active secondary market where investors can buy and sell government securities.

During the Public Offer Period, RTBs will be made available by the Bureau of the Treasury (“BTr”) through the Selling Agents to the following:

Individuals, Corporations, Financial Institutions, Cooperatives, Retirement Funds, Provident Funds, and other Institutional Investors.

Switch Program

RTB29 also offers a Bond Exchange mechanism for the following Eligible Bonds:

Series	Coupon Rate	Maturity	Exchange Ratio
FXTN 05-75	5.500%	March 8, 2023	1:1
FXTN 07-58	3.500%	April 21, 2023	1:1
FXTN 20-05	11.875%	May 29, 2023	1:1

Bondholders of the maturing Eligible Bonds have the option to convert their holdings to the new RTB29.

Terms of the Offering:

Issuer	Republic of the Philippines through the Bureau of the Treasury
Issue	Retail Treasury Bonds – Tranche 29
Issue Date	[February 22, 2023]
Maturity Date	5.5 years (5 years and 6 months) from Issue Date
Public Offer Period*	February 7 to [February 17, 2023]
Issue Price	At par (or 100%)
Redemption Price	At par (or 100%)
Coupon Rate	6.125% gross p.a.
Taxation**	20% final withholding tax on interest income
Payments	Quarterly
Listing and Trading	Philippine Dealing and Exchange Corporation
Denomination	Minimum denominations of PHP5,000 and in increments of PHP5,000 thereafter
Negotiability	Negotiable and transferrable

* The BTr has the discretion to adjust the Public Offer Period

** Not applicable for tax-exempt institutions

Joint Lead Issue Managers:

Development Bank of the Philippines

Land Bank of the Philippines

Joint Issue Managers:

BDO Capital & Investment Corporation

BPI Capital Corporation

China Bank Capital Corporation

First Metro Investment Corporation

PNB Capital and Investment Corporation

SB Capital Investment Corporation

Union Bank of the Philippines

Offer period is from February 7 to [February 17, 2023 only*].

* The BTr has the discretion to adjust the Public Offer Period

For more details, visit: www.treasury.gov.ph or contact your BDO representative now.

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