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Please read the Important Risk Warning for ELIs before making investment decisions.
Hong Kong's first-ever US ELI online subscription service is now available. Eligible customers can enjoy an extra 6% p.a. interest rate for the first month upon designated online subscription amount before 30 June. Offer details
Equity Linked Investments (ELIs) are structured products in which the investment returns are linked to the performance of the underlying equities. With a flexibility to select different tenors and product features, ELIs can be tailored to meet your investment needs.
Subscribe in just 5 quick steps
What is Risk Tolerance Level?
Complete the form on Invest Express Mobile App for applicable ELIs subscription
Some ELIs include a partial capital protection feature at maturity, subject to a base redemption level.
The base redemption level, usually specified as a percentage, range from 70% to 99.9% of the invested amount.
In certain circumstances, you may earn higher potential returns than with conventional time deposits, depending on changes in the values of the underlying assets.
ELIs flexible tenors range from 1 month to 3 years.
ELIs with callable feature allows investors to receive the potential return and their invested amount before the maturity date.
ELIs can be linked to shares or exchange-traded funds (ETFs) that are listed on stock exchanges. They can also be linked to a single stock or a basket of stocks.
Access a myriad of stocks selection from both the US and HK stock markets in diversified sectors. Stock sectors cover Technology, Financials, Telecommunications, Consumption and Health Care etc.
Some ELIs include an airbag feature, in which case the settlement at maturity will depend on whether an airbag lapse event has occurred.
The airbag level is usually expressed as a percentage of the linked stock’s initial spot price, and is usually set lower than its strike price.
You may subscribe for ELIs linked to HK stocks and US stocks via Hang Seng Personal Banking mobile app, Personal e-Banking (Desktop version) or any of our branches.
LearnSmart[2]
Our educational tool LearnSmart offers an interactive way for you to learn more about how ELIs work. It covers two structures, “Callable ELIs” and “ELIs with Potential Upside Cash Return”, you can choose the one that best fits your investment views and objectives.
Illustration of other ELIs structures[2]
Some ELIs allow partial capital protection at maturity. Let’s begin the illustration.
Assume you will invest in a 3-month ELI with partial capital protection at maturity, and linked to a stock. Here are 4 scenarios showing how the final stock price will affect your total returns.
The increase in final stock price is higher than coupon rate
The final stock price goes all the way up to HKD 120, an increases of 20% at final fixing date. This increase in stock price is higher than the coupon rate of 10%. Thus, the coupon rate at maturity rises to 20%.
First month when you subscribe
You invest HKD 80,000
At maturity date on the third month
Total final amount (including principal and coupon) HKD 96,000
Your returns at maturity
HKD 80,000 x 20% (coupon rate at maturity) = HKD 16,000
The increase in final stock price is lower than coupon rate
The final stock price hits HKD 109, an increases of 9% at final fixing date. This increase in stock price is lower than the coupon rate of 10%. In this case, the coupon rate at maturity will be 10%.
First month when you subscribe
You invest HKD 80,000
At maturity date on the third month
Total final amount (including principal and coupon) HKD 88,000
Your returns at maturity
HKD 80,000 x 10% (coupon rate at maturity) = HKD 8,000
The final stock price is lower than the strike price and initial stock price
The final stock price drops to HKD 90, a decrease of 10% at final fixing date. Since the final stock price is lower than the strike price and the initial stock price, you are not entitled to any coupon amount and will receive only 90% of your initial investment amount.
First month when you subscribe
You invest HKD 80,000
At maturity date on the third month
Total final amount HKD 72,000
Your loss at maturity
HKD 80,000 x 10% (decrease %) = HKD 8,000
The final stock price is lower than the base redemption level
The final stock price decreases by 30%, to HKD 70 at final fixing date. Since the final stock price is lower than the strike price and base redemption level, you are not entitled to any coupon amount, and will receive only 80% (base redemption level) of your initial investment amount.
First month when you subscribe
You invest HKD 80,000
At maturity date on the third month
Total final amount HKD 64,000
Your loss at maturity
HKD 80,000 x 20% = HKD 16,000
Via website
Via mobile app
Offering documents
Programme for the Issue of Unlisted Equity Linked Structured Products offered by Hang Seng Bank Limited:
Trading service
The ELIs online trading platform processes ELIs linked to HK stock(s) orders from 9:00 a.m. to 3:30 p.m. on trading days from Monday through Friday (HKT) (excluding Hong Kong public holidays, half-day trading, or market disruption days).
You can convert the currency via your Personal e-Banking account or instruct the Bank to convert it in your account prior to placing your ELIs order. Please note that the ELI order will be rejected if the funds in your account are insufficient in the relevant currency.
If there are any corporate actions relating to your ELIs holding, we will provide you with a written notification based on your registered contact information with the Bank.
You will need a Securities Account to subscribe to ELIs and for their stock delivery (if any). If you are an Integrated Account holder, you may open or reactivate the Securities Account via Personal e-Banking services or by visiting any of our branches. Please note that a suitability assessment is required when conduct ELIs transaction.
Yes. Simply log on to Hang Seng Personal e-Banking and click on "Order status" section. You can also view your holding details in the "My Portfolio" section under the "ELIs".
ELIs linked to US stock(s) subscription service is available at Hang Seng Bank’s branches from 9:00am to 5:00pm on trading day from Monday to Friday (HKT) (except for Hong Kong and United States public holidays, half day trading, or market disruption day).
You can access Invest Express to keep track of different stock’s information , such as performance, stock quote and news or by visiting any of Hang Seng Bank branches.
Yes. You are required to hold a valid W-8BEN Form record before subscripting for ELIs linked to US stock(s). You may submit a Substitute Form W-8BEN through Invest Express if needed. Apart from that, you will have to conduct a suitability assessment with reference to your personal circumstances during the subscription process.
You can now subscribe ELIs linked to US stock(s) at Hang Seng Bank’s branches. Online subscription services will be launched soon.
Feature & risk
The investment periods for ELIs usually range from 1 month to 3 years.
ELIs may be issued in any non-restricted and freely convertible currencies, such as AUD, CNY, EUR, GBP, HKD, JPY, NZD or USD. This will be specified in the term sheet for the relevant series of ELIs.
The settlement currency for any cash payment under an ELI will usually be the same as the currency used when you purchased the ELI.
The typical minimum investment amount is approximately HKD 80,000 or its equivalent in other currencies. The amount will be reviewed periodically and specified in the term sheet for the relevant series of ELIs.
ELIs may have features such as Airbag, Callable and / or Daily accrual. You can learn more about the relevant products through “How does it work” section in this webpage. For further information, please refer to the The Chin family.
Some of the ELIs are not capital-protected, while others are partially capital-protected at maturity, subject to a base redemption level specified in the relevant term sheet.
Please note that the full amount of your investment is at risk in either case and be prepared to bear full financial responsibility.
Please refer to risk factors listed in the relevant offering documents for the ELIs.
Once you have placed an ELI order, you have committed to purchase the ELIs unless:
You should note that the total cash amount returned to you when you unwind your order may be substantially less than your initial investment.
A product's risk rating is based on the Bank's proprietary risk rating methodology, which considers a variety of qualitative and quantitative factors.
All investment products are assigned a risk level from 1 to 5, with 1 as the lowest and 5 as the highest. A product risk rating is neither a statement of fact nor a recommendation to buy or sell the product.
Click to learn more about how we assign risk ratings for ELIs.
If you have any queries on product risk ratings, please contact your Relationship Manager. Independent financial and legal advice should be sought if necessary.
Our market coverage includes Hong Kong Stock Exchange, New York Stock Exchange (NYSE) and NASDAQ Global Select Market.
Fees and charges
Please refer to the offering documents for the ELIs you are considering.
Understand what is ESG and sustainable investment to know how it would affect our investment decisions.
Open a bank account and investment account with Hang Seng Mobile App[3]
Comprehensive Equity Linked Investments experience is just a few steps away[4]
Open an Integrated Account at designated branches and activate your investment account via Personal e-Banking
Personal customers:
(852) 2882 0228
Commercial customers:
(852) 2198 8000