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Brief introduction to the certificate T-

Date: 2016-03-20

1. Subscription: During the period of issuance, the Ministry of Finance allocates the sales quota of certificated bonds to the underwriters in one time. If an outlet of Postal Savings Bank of China notifies that the certificated bonds of the day has been sold up, the current tranche of certificated bonds has also been sold out. Clients can focus on the quota available for salegenerating from the redemption during the period of issuance.   

2. Interest rate adjustment: If the People's Bank of China adjusts the interest rate on deposit of financial institutions during the period ranging from the date of announcement to the closing date of the issuance, the certificated bonds will be issued as scheduled after the coupon rate of the current tranche of certificated bonds is adjusted in line with the benchmark interest rate on the deposits with the same term. The original interest rate will be followed for the portion that has been sold before the adjustment, and the new interest rate will be adopted for the portion after the adjustment of interest rate. 

3. Interest payment: For certificated bonds, the interest will be paid together with the principal in a lump sum upon maturity. Value date is the purchase date. Maturity date is the corresponding date of value date after N year (N means the term of T-bonds). 

4. Interest for advance redemption: No interest will be accrued in case of no more than the specified period. Certificated bonds must be redeemed in full amount in one time. The Bank will transfer the principal and interest (after deducting the handling fee) to the personal settlement account with PSBC in a real-time manner.

5. The aforesaid provisions shall be subject to the administrative measures for certificated bonds and supporting documents issued by the Ministry of Finance and the People’s Bank of China.