Investment Corner
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Free Real-time basic quote is provided for free. Data content includes nominal/last traded price, closing price, today's high/low prices, trading volume, turnover value, Indicative Equilibrium Price (IEP) and Indicative Equilibrium Volume (IEV) during the pre-opening session of individual securities on the Stock Exchange.

Information provided on these webpages is for general information and reference only and does not constitute nor is it intended to be construed as any professional advice, offer, solicitation, or recommendation to deal in any securities or investments. Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors stated therein) in detail before making any investment decision.

a. (For information produced by Hang Seng Bank Limited or its affiliates) The information is provided by Hang Seng Bank Limited or its affiliates ("Hang Seng") for general information and reference only and does not constitute nor is it intended to be construed as any professional advice, offer, solicitation, or recommendation to deal in any of the securities or investments mentioned herein. The information provided is based on sources which Hang Seng believes to be reliable but has not been independently verified. Any projections and opinions expressed herein are expressed solely as general market commentary and do not constitute solicitation, recommendation, investment advice, or guaranteed return. They represent the views of Hang Seng or the analyst(s) who prepare(s) the information at the time of publication and are subject to changes without notice. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any general financial and market information, news services and market analysis, projections and/or opinions (“Market Information”) provided on these webpages and the basis upon which any such Market Information have been made, and no liability or responsibility is accepted by Hang Seng in relation to the use of or reliance on any such Market Information whatsoever provided on these webpages. Investors must make their own assessment of the relevance, accuracy and adequacy of the information, projections and/or opinions provided on these webpages and make such independent research/investigations as they may consider necessary or appropriate for the purpose of such assessment. Hang Seng does not make any representation or recommendation or assessment as to whether or not any of the investment(s) mentioned herein is/are suitable or applicable to any persons and thus shall not be held responsible in this regard. Investors should make investment decision(s) based on his/her own financial situation, investment experience, investment objectives, and specific needs; and if necessary, should seek independent professional advice before making any investment decision(s).

All investments involve risks. Investors should note that prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions.

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All investments involve risks. Investors should note that prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions.

These webpages have not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.

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List of Bonds and CDs

Important Risk Warning

  • The information in this webpage is provided for reference only and shall not be considered as investment advice. It does not constitute any offer or solicitation of offer to subscribe, transact or redeem any investment product. If you have any doubt, you should seek independent professional advice.
  • Bonds and Certificates of Deposit (CDs) are investment products. The investment decision is yours but you should not invest in a bond/CD unless the intermediary who sells it to you has explained to you that the bond/CD is suitable to you having regard to your financial situation, investment experience and investment objectives. Your intermediary is under a duty to assure that you understand the nature and risks of this product, and that you have sufficient net worth to be able to assume the risks and bear the potential losses of trading in this product.
  • Bonds are not deposits and should not be treated as substitute for conventional time deposits.
  • Certificate of Deposit is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
  • Investors who purchase bonds/CDs are exposed to the credit risk of the issuer and guarantor (if any) of the bonds/CDs. There is no assurance of protection against a default by the issuer/guarantor in respect of the repayment obligations. In the worst case scenario, any failure by the issuer and the guarantor (if any) to perform their respective obligations under the bonds/CDs when due may result in a total loss of all of your investment.
  • Renminbi (RMB) is not a freely convertible currency. As such, investors trading bonds and/or CDs denominated in RMB are subject to additional risks (such as currency risk).

Key Risk Factors

  • Default/ Credit risk: There is a risk that the issuer may fail to pay the interest or principal to the investor as scheduled.
  • Interest rate risk: When the interest rate rises, the price of a fixed rate bond will normally drop, and vice versa. Therefore, if the investor wishes to sell the bond before its maturity date, the investor’s return may be less than the purchase price of the bond. Moreover, longer-term bonds are more sensitive to interest rate changes than shorter-term bonds. For instance, a 30-year zero coupon bond is usually more sensitive to interest rate changes than a 10-year fixed rate bond. This is because a zero coupon bond does not make any interest payments during its term and repayment only occurs upon its maturity. The value of the zero coupon bond is calculated by discounting its repayment amount at maturity back to its present value. It follows that the shorter a bond's term, the lesser the impact of such a discount on its value, and the lesser the impact that interest rate changes will have on its value.
  • Exchange rate risk: Where a bond is denominated in a foreign currency, investors will be subject to exchange rate risk. Any fall in the foreign currency will reduce the amount to be received by the investor when the investor converts a payment of interest or principal back into its local currency.
  • Liquidity risk: Investors looking to sell a bonds before its maturity date should note that it may not be able to sell the bond if the liquidity of the secondary bond market is low.
  • Inflation risk: The return on bond investments will lose purchasing power if commodity prices go up. Inflation is therefore a serious concern for those who need to rely on the regular income from bonds.
  • Event risk: A corporate event such as a merger or takeover may lower the credit rating of the bond issuer. In case the corporate restructurings are financed by the issuance of a large amount of new debt-burden,the company's ability to pay off existing bonds will be weakened.

High yield bonds carry additional risks

  • Higher credit risk: High yield bonds are often rated below investment grade or unrated. While ratings from the credit rating agencies do not guarantee the creditworthiness of the issuers, investing in non-investment grade or unrated bonds may result in higher risk of default by the issuers.
  • Vulnerability to economic cycles: High yield bonds are more vulnerable to economic changes. During economic downturns, the value of these bonds typically fall more than that of investment-graded bonds because investors become more risk averse and default risk rises.
The above is not an exhaustive list of risk factors. Please refer to the section on “Risk Factors” in the relevant "BOND / CERTIFICATE OF DEPOSIT TRADING SERVICES" Factsheet to understand other risk factors applicable to bonds and CDs.
Certificates of Deposit


Secondary Market Bonds


*The information listed above are not the full list of Bonds/CDs provided by Hang Seng Bank.

 

Indicative prices are for reference only. Yield to Maturity (YTM) is a hypothetical rate of return if investors were to hold the bonds until maturity, and is solely for reference purpose. It is calculated using the indicative offer price, and is based on several assumptions including a) the issuer will redeem the bond on the relevant maturity date, and b) all coupon and principal payments will be made in full on schedule, and c) coupon payments are reinvested at the “Yield to Maturity”. In addition, for variable coupon / floating rate bonds, this calculation uses a series of projected coupons based on an assumed reference rate fixings for each relevant coupon period. For bonds with no stated maturity dates such as perpetual bonds, this calculation uses an assumed “Calculation Maturity Date”. This calculation does not take into account coupon deferral or non-cumulative features and/or situations where the issuer may exercise discretion over coupon payments. Investors should be aware that the actual return may be significantly less than the calculated return (or even suffering from a loss), given that the calculation is based on various assumptions aforementioned which may not be met in actual case.

Important Notice: For the product risk rating information of Bonds and Certificates of Deposit: Please click View detail [PDF]

Disclaimer

 

This Information shown in this webpage is based on sources believed to be reliable but Hang Seng Bank Limited makes no representation and accept no responsibility as to its accuracy and shall not be held liable for damages arising out of any person’s reliance upon the information. The information is neither a recommendation, an offer to sell nor a solicitation of an offer to purchase any investment. The prices quoted and the other information shown are for reference only and are subject to change without notice.

 

The offering documents of the bonds are prepared by the issuer of the bond. Hang Seng Bank Limited has not separately verified the information contained in these documents and makes no representation, warranty or undertaking, express or implied, and accepts no responsibility with respect of the accuracy or completeness of any information contained in such documents.