BOC Hong Kong Hold. : Bank of China (Hong Kong) launches iBond subscription offers and extends service hours of designated branches and subscription hotlines

Bank of China (Hong Kong) launches iBond subscription offers and extends service hours of designated branches and subscription hotlines

04 Jun 2012

Bank of China (Hong Kong) Limited ("BOCHK") announced the offering of Inflation-Linked Retail Bond ("iBond") subscription service and a host of fee waivers (Note 1) from 5 June 2012 following the launch of iBond by the Hong Kong Special Administrative Region Government. The promotional offers include waivers of 0.15% subscription fee, custody fee (Note 2) and interest collection fee (Note 3). No redemption fee at maturity and handling fee for secondary market transactions will be charged. The offers are designed to help customers reduce bond subscription costs. In addition, from 5 June to 12 June 2012, designated branches and subscription hotlines of BOCHK will extend service hours to facilitate subscription by customers.

From 5 June 2012 to 13 June 2012 ("subscription period"), customers can subscribe for iBond at the designated counters of over 260 branches of BOCHK, Nanyang Commercial Bank ("NCB") and Chiyu Banking Corporation ("Chiyu") or through Internet Banking Service at www.bochk.com, www.ncb.com.hk or www.chiyubank.com respectively. From 5 June 2012 to 12 June 2012, service hours of 68 designated branches of BOCHK will extend from 9 am to 7 pm from Monday to Friday, and from 9 am to 3 pm on Saturday. Alternatively, customers can call BOCHK Subscription Hotline at (852) 3988 2688, Wealth Management Hotline at (852) 3988 2888, NCB Subscription Hotline at (852) 2850 1228 or Chiyu Subscription Hotline at (852) 2232 3882 for iBond subscription. The hotlines will extend service hours from 8 am to 8 pm from Monday to Friday (subscription is accepted from 9 am on 5 June), and from 8 am to 3 pm on Saturday.

To subscribe for the iBond through BOCHK, customers must hold a securities account and a HKD savings or current account as the settlement account with BOCHK.  The bond subscription refund and the interest collected in respect of the iBond will be credited to customer's settlement account.

The iBond issued by the Hong Kong Special Administrative Region Government has a tenor of three years.  The principal amount of the iBond is HK$10,000 or an integral multiple thereof. The iBond will be issued on 22 June 2012 and listed on the Hong Kong Stock Exchange on 25 June 2012 with maturity on 22 June 2015. The interest will be paid once every six months and determined based on the higher of the fixed rate of 1.00% p.a. or the floating rate, being the arithmetic average of the year-on-year rates of change in the Composite Consumer Price Index for the six most recent preceding months.  iBond subscription is limited to holders of valid HKID card only.  For details of interest payment dates and retail bond investment risks, please refer to Retail Bond Issuance Programme and related promotional leaflets. 

For enquiry of bond subscription service and offers provided by BOCHK, please call BOCHK Customer Service Hotline at (852) 3669 3668 or visit any of BOCHK branches.

Notes:
1.  Offers are subject to relevant terms and conditions. 
2.   Custody fee is levied half-yearly at a rate of 0.015% on the average daily balance with a minimum charge of HK$100 and a maximum charge of HK$2,500.  The fee is charged on 31 May and 30 November each year and calculated based on the daily balance in the past six months.
3.  Interest collection fee is charged at a rate of 0.5% on the amount of each interest payment.  The minimum charge is HK$20 and the maximum charge is HK$2,500.

Attachment: List of selected branches with extended service hours

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About Bank of China (Hong Kong) Limited
Bank of China (Hong Kong) Limited ("BOCHK"), established on 1 October 2001, is a leading listed commercial banking group in Hong Kong. With over 260 branches, more than 570 ATMs and other distribution channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to personal and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 30 branches and sub-branches in the Mainland of China to provide cross-border banking services to customers in Hong Kong and the Mainland. BOCHK is appointed by the People's Bank of China as the Clearing Bank for Renminbi business in Hong Kong. On 13 July 2010, BOCHK was authorised as the Clearing Bank of RMB banknotes business for the Taiwan region.

BOC Hong Kong (Holdings) Limited, BOCHK's holding company, began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code "2388", ADR OTC Symbol "BHKLY".

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