Pre-placement on HSBC bond oversubscribed

Pre-placement for a new HSBC bond carrying a coupon on 5.9 per cent was over subscribed by 2.54 times on Friday, HSBC said.

Total demand exceeded €38 million compared to a maximum allotment of €15 million.

The €25 million bond issue, subject to an over-allotment option of up to a further €5 million, was announced on Monday.

The balance of €15 million will be available to the public on Wednesday.

Applications by the public can be made for a minimum of €2,500 (nominal) and in multiples of €100 thereafter.

The bank has filed an application for the listing of the bonds on the Malta Stock Exchange. Charts Investment Management Service Ltd are to act as sponsoring stockbrokers.

For more information, prospective investors should visit www.hsbc.com.mt.

Meanwhile, HSBC Global Asset Management (Malta) Ltd is offering a new four-year capital protected medium-term note, aimed at investors seeking capital protection with potential capital growth.

The HSBC Asia Accelerator (EUR) Note 2012 is designed to protect investors' capital if held until maturity and provide investors with a participation rate of 100 per cent in the combined growth of the Hang Seng China Enterprise Index, MSCI Taiwan Index, and MSCI Singapore Index after four years.

This note also offers the possibility of early maturity after two years together with a gross return of 20 per cent (equivalent to an annualised return of 9.53 per cent) if the levels of the indices, at the end of the second year, have registered an average combined growth of 20 per cent or more than their initial index level.

An incentive payment of four per cent per annum is paid pro rata from date of subscription until the investment actually starts.

The offer closes November 15, or earlier if oversubscribed. Applications may be obtained from HSBC branches. Visit www.hsbc.com.mt/investments for more information.