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Bonds of the Month

IssuerCCYCouponMaturity
AGRICULTURAL BANK OF CHINA LTD (HONG KONG BRANCH)HKD--29 Nov 2019Buy
ORACLE CORPUSD2.625%15 Feb 2023Buy

Risk Disclosure:

  • Bonds / CD are mainly medium to long term fixed income products, not for short term speculation. You should be prepared to hold your funds in bonds/CD for the full tenor; you could lose part or all of your principal if you choose to sell bonds/CD prior to maturity.
  • It is the issuer to pay interest and repay principal of bonds/CD. If the issuer defaults, the holder of bonds/CD may not be able to receive back the interest and principal. The holder of bonds/CD bears the credit risk of the issuer and has no recourse to HSBC unless HSBC is the issuer itself.
  • Indicative price of bonds/CD are available and bond/CD price do fluctuate when market changes. Factors affecting market price of bonds/CD include, and are not limited to, fluctuations in Interest Rates, Credit Spreads, and Liquidity Premiums. The fluctuation in yield generally has a greater effect on prices of longer tenor bonds/CD. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling bonds/CD.
  • If you wish to sell Bonds/CDs, HSBC may repurchase it based on the prevailing market price under normal market circumstances, but the selling price may differ from the original buying price due to changes in market conditions.
  • There may be exchange rate risks if you choose to convert payments made on bonds/CD to your home currency.
  • The secondary market for bonds/CD may not provide significant liquidity or may trade at prices based on the prevailing market conditions and may not be in line with the expectations of holders of bonds/CD.
  • If bonds/CD are early redeemed, you may not be able to enjoy the same rates of return when you use the funds to purchase other products.

For Renminbi (RMB) products:

  • There may be exchange rate risks if you choose to convert RMB payments made on the bonds to your home currency.
  • RMB debt instruments are subject to interest rate fluctuations, which may adversely affect the return and performance of the RMB products.
  • RMB products may suffer significant losses in liquidating the underlying investments if such investments do not have an active secondary market and their prices have large bid/ offer spreads.
  • You could lose part or all of your principal if you choose to sell your RMB bonds prior to maturity.