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3rd batch of Silver Bond announced


The Government today announced the launch of the third batch of Silver Bond for subscription by Hong Kong residents aged 65 or above.

 

The subscription period will start at 9am on November 28 and end at 2pm on December 6. The bond will be issued on December 17.

 

At a press conference today, Monetary Authority Executive Director (Financial Infrastructure) Colin Pou said the Silver Bond is an investment product for senior residents that can provide a steady stream of return.

 

It also helps promote market participation in devising more products suitable for elderly citizens, he added.

 

The target issuance size of the third batch of Silver Bond is $3 billion with a tenor of three years.

 

Interest will be paid once every six months at a rate linked to inflation in Hong Kong, subject to a minimum rate of 3%.

 

There will be no secondary market for Silver Bonds. Bond holders may sell their bonds before maturity to the Government at par together with accrued but unpaid interest.

 

Eligible residents may apply for the bond through one of the 20 placing banks or 15 designated securities brokers.


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