On August 9, the Hong Kong Monetary Authority announced the details of the seventh batch of silver bond issuance.
The target issuance amount is HK$35 billion, which can be increased to a maximum of HK$45 billion depending on market conditions; dividends will be paid every 6 months, and the guaranteed interest rate will be raised from 3.5% in 2021 to 4%.
The term of silver bonds is 3 years, and the subscription amount per lot is HK$10,000. There is no second-hand market. Each subscriber can be allocated a maximum of 100 lots. Repeated applications will not be accepted.
The eligible subscription age is 60 years old and above, that is, citizens born in or before 1963 and holding a Hong Kong identity card can subscribe.
The bond subscription period is from August 23 to September 2 at 2 p.m., and it will be issued on September 14. The public can subscribe through 20 placing banks and 27 designated securities brokers.
It is reported that the Silver Bond is an inflation-linked bond launched by the Hong Kong SAR government for Hong Kong residents aged 60 or above. It was launched from 2016 to 2017 to provide the elderly with stable returns and near-zero risk investment products.
Reporter Fan Siyi Produced by Luo Qianqian and Wu Rui
Responsible editor: [Li Ji]