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Soil, Person, Plant

Retail Infrastructure Bond is now available

Now available for public application:

26 November 2024 (9am) to 6 December 2024 (2pm)

How to apply

You can only apply for Retail Infrastructure Bond if you (i) hold a valid Hong Kong Identity Card; and (ii) aged 18 or above
1. Via Online Banking

For existing clients* who have (i) valid single name Debt Securities Account; (ii) valid single name HKD Settlement Account; and (iii) registered for Online Banking service on or before 18 November 2024, you can apply for Retail Infrastructure Bond via Online Banking from 26 November 2024 (9am) to 5 December 2024 (11:59pm) (i.e. one day before the official close day).

*Clients’ eligibility is including but not limited to the criteria specified in the Frequently Asked Questions

Login and click on the promotion banner as shown below to apply.

hk-investment-retail-infrastructure-bond-2024-ob-en.jpg (990×810)

2. Via branches

If you have not registered for Online Banking or do not have a valid Debt Securities Account and HKD Settlement Account, you can submit your application form to any of our branches from 26 November 2024 (9am) to 6 December 2024 (2pm).

Locate branches >>

Find out more details of Retail Infrastructure Bond on the Government Bond Programme’s website.

Fee waivers on Retail Infrastructure Bond application

Fee waivers
  • Handling fee
  • Sell transaction (for secondary market transaction only)
  • Transfer to Standard Chartered Securities Account
  • Safe custody
  • Interest collection
  • Maturity redemption

Note: Transfer out request is subject to the handling fee of HKD500 per request.

Enquiry hotline: (852)2886-8868 (press “4 > 5 > 3 > 0”) after selecting language

Enquiry hotline service hours:
Monday to Friday: 9am – 5:30pm
Saturday, Sunday and public holidays: Closed

Frequently Asked Questions

  • Subject to some selling restrictions, clients who hold a valid Hong Kong Identity Card and aged 18 or above are eligible to apply. This is not limited to permanent resident. The Issuer representative (HKMA) will not accept multiple applications per Hong Kong Identity Card holder (regardless it’s applied via single or joint name account). Therefore, you can only apply through one placing bank or designated securities brokers. If you apply through more than one bank or other channels and multiple applications reach the Issuer, the Issuer will disqualify and reject every application you have made.

  • If you belong to any of the groups below, you are not allowed to apply for this series of Retail Infrastructure Bond:
    i) You are located within the United States or Canada; or
    ii) You are a U.S. Person within the meaning of Regulation S under the U.S. Securities Act of 1933, as amended, (which includes any person resident in the United States and any partnership or corporation organised or incorporated under the laws of the United States) or a resident of Canada; or
    iii) You are acting as an agent of a U.S. person or a resident of Canada; or
    iv) You are not in Hong Kong at subscription

  • i) A valid single name HKD Settlement Account; and
    ii) A valid single name Debt Securities (“DSS”) Account

  • You need to complete and provide the following documents at branch:
    – DSS questionnaire; and
    – InvestPro account opening form; and
    – Residential address proof

  • Subscription Channel Eligible clients (Subject to selling restrictions mentioned in point 2)
    Via branches Clients who (i) hold a valid Hong Kong Identity Card; and (ii) aged 18 or above
    Via Online Banking Clients who fulfil the requirements below on or before 18 November 2024:

    1.  Hold a valid Hong Kong Identity Card

    2. Aged 18 or above

    3. Have a valid single name Debt Securities Account and a valid single name HKD Settlement Account

    4. Have registered for Online Banking service

    5.  Non-US person or non-Canada resident

    6. Address not in U.S. or Canada

    7. Able to see the Retail Infrastructure Bond banner after logging into Online Banking

    hk-investment-retail-infrastructure-bond-2024-banner-en.jpg (770×135)

  • You may call our Enquiry Hotline at (852)2886-8868 (Press 4 > 5 > 3 > 0 after selecting language) to enquire the status by indicating your order reference number.

  • Application will be rejected by HKMA if you have submitted multiple applications through more than one placing bank or designated securities brokers. The fund will be credited to your settlement account within 5 business days after the issue date (i.e. 17 December 2024).

  • Allotment results will be sent to you via SMS on or before 16 December 2024.

  • Yes, you can submit the “Retail Bond Transfer Request Form” at branch to request for transferring your Retail Infrastructure Bond holdings to your Securities Account.

    • If your Retail Infrastructure Bond holding is in your Bond Account, you must sell the Retail Infrastructure Bond via our branches.
    • If your Retail Infrastructure Bond holding has been transferred to your Securities Account, you can sell the Retail Infrastructure Bond via the Bank’s Online Banking / SC Equities.

  • The maximum allotment amount is HKD1,000,000.

  • We recommend using any of the following browsers with Windows or MacOS to submit your Retail Infrastructure Bond application via Online Banking:
    • Chrome
    • Edge
    • Firefox

Risk Disclosure Statement

Disclaimer and Important Notice Statement:
You should read the programme circular dated 30 September 2024 as well as the issue circular dated 26 November 2024, copies of which can be viewed online at the Government Bond Programme’s website before deciding whether to apply for any retail bonds.

Key Risks:

  • Interest rate risk: The market value of retail bonds with a fixed rate of interest, or with a rate of interest that includes a fixed rate component, may decrease if the prevailing Hong Kong dollar interest rates increase during the term of those retail bonds.
  • Index risk: The market value of retail bonds with an interest rate linked to an index may be affected by movements in that index.
  • Exchange rate risk: The Hong Kong dollar value of retail bonds denominated in a currency other than Hong Kong dollars will decrease if that currency depreciates against the Hong Kong dollar.
  • Liquidity risk: There may not be an active secondary market or any secondary market at all for your retail bonds and it may not be possible to sell your retail bonds prior to maturity or the sale price may be lower than the amount you invested.
  • Credit risk: The retail bonds are not secured. When you buy retail bonds you will be relying on the creditworthiness of HKSAR Government. Adverse changes in the wider economic conditions in Hong Kong and the world and/or the creditworthiness of HKSAR Government may reduce the market value of your retail bonds and may affect HKSAR Government’s ability to make payments of principal of and interest on your retail bonds. In the worst case scenario, you could lose all of your investment.
  • Intermediary risk: You can only hold retail bonds indirectly through certain institutions, whom you will have to rely on to perform a number of functions, including passing on payments of principal of and interest on retail bonds to you and proving your interest in your retail bonds.
  • Infrastructure investment risk: The retail bonds may not necessarily be a suitable investment if you seek exposure to specific types of infrastructure projects. While the proceeds of the retail bonds will be used to fund one or more of the “Eligible Projects” as defined in the Infrastructure Bond Framework, payments under the retail bonds are not linked to the performance of the relevant Eligible Project(s). The retail bonds are not secured by income from the Eligible Project(s) and you do not have any rights to the Eligible Project(s). HKSAR Government has the sole and absolute discretion to determine the allocation of the proceeds of retail bonds to the Eligible Project(s), which may be changed and/or updated from time to time.

Risk Disclosure Statement for Debt Securities Services:

  • Investment involves risks. The price of bonds fluctuates, sometimes dramatically and the worst case may result in loss of your entire investment amount.  There is an inherent risk that losses may be incurred rather than profits made as a result of trading bonds.
  • Investors should consider their own investment objectives, investment experience, financial situation and risk tolerance level.
  • Investors should carefully read the relevant offering documents and the Terms & Conditions of relevant product / service before making any investment decision.
  • Bond is not an alternative to ordinary saving or time deposit, and is NOT a protected deposit and NOT being protected under the Deposit Protection Scheme in Hong Kong.

Notes:

  • This webpage does not constitute any prediction of likely future price movements.
  • Investors should not make investment decisions based on this webpage alone.
  • This webpage has not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.