HSBC issues up to six per cent interest capital-secured ELDA

HSBC has again introduced another deposit product to Malta. The 27th Equity Linked Deposit Account named ELDA Emerging Indices, offers depositors capital security and the potential of higher annual returns than those normally offered by other deposit accounts.

Denominated in euro, ELDA Emerging Market Indices gives customers exposure to the emerging markets of Brazil, Taiwan and China. Depositors will be able to benefit from a return linked to the performance of an index basket composed of iShares MSCI Brazil ETF, MSCI Taiwan and Hang Seng China Enterprises.

The account will be open for up to six years, autocallable in years three and four, and attracts a potential return of six per cent per annum on the amount deposited. For the coupon to be paid, the value of all indices on valuation date must be equal to or above 90 per cent of their value at strike date on June 14. The full sum deposited is paid out to customers upon maturity which can be in years three, four or five.

The minimum deposit required to open an ELDA account is €2,500. The closing date for this limited issue is June 8, but it may be closed earlier if oversubscribed.

More information about ELDA may be obtained from HSBC’s customer service on 2380 2380, at www.hsbc.com.mt, or in HSBC branches around Malta and Gozo.