“Commission to Pay Interest” Margin Securities Account Offer
From 1st April 2016 to 31st December 2016, if you buy HK Stock by the margin securities account through electronic channels of the Bank and the average utilize rate of the Margin Loan achieves 30% or above in each month, you can enjoy the rebate of the paid commission of buying HK Stock in that month for settling the margin interest expenses in that month.
- The promotion period of “Commission to Pay Interest” Margin Securities Account Offer (“This Promotion”) is from 1 April 2016 to 31 December 2016 (both dates inclusive) (“Promotion Period”).
- This Promotion is only applicable to Wing Lung Bank Limited (“the Bank”) Margin Securities Account Customer (“Eligible Customer”).
- Eligible Customer who buys securities listed on the Hong Kong Stock Exchange (“HK Stock”) through Wing Lung Net Banking Service or Automated Securities Trading Service or Wing Lung Mobile Banking Service and the “Average Utilize Rate of the Margin Loan” achieves 30% or above in each month can enjoy the rebate of the paid commission of buying HK Stock in that month for settling the margin interest expenses in that month.
- “Average Utilize Rate of the Margin Loan” means the “Monthly Average Margin Loan Balance” divided by the approved margin facility limit of Eligible Customer’s margin securities account; “Monthly Average Margin Loan Balance” means the aggregate sum of daily margin loan balance in a calendar month divided by the total number of days in that month.
- Eligible Customer shall fully pay the commission and margin interest in accordance with the default commission and margin interest rate of the margin securities account first in each month, the Bank will calculate the total commission paid of the HK Stock buy transactions at the end of the month and will deposit the commission rebate amount to the margin securities account of Eligible Customer in the next month. The maximum commission rebate amount is the commission paid of the HK Stock buy transactions in that month or the margin interest expenses in that month (whichever is lower). If Eligible Customer does not have any margin interest expenses for the margin securities account in that month, This Promotion is not applicable.
- If the HK Stock traded is not settled in Hong Kong Dollar, the relevant commission rebate will be converted to the equivalent Hong Kong Dollar and deposited to the margin securities account. The exchange rate is determined by the Bank.
- Eligible Customer must have been maintaining securities account and settlement account of the Bank when commission rebate is deposited; otherwise, no commission will be rebated.
- Eligible Customer cannot enjoy commission, interest or coupon rebate of other related securities services offered by the Bank simultaneously. The Bank will calculate the rebate/coupon amount of each offer applied on an individual account each month for comparison, only one of the offers with the highest value will be given to the customers
- The HK Stocks bought through Securities Savings Scheme are not applicable to This Promotion.
- If the margin securities account was liquidated forcibly by the Bank during the Promotion Period (that means the account maintained insufficient margin causing the Bank to liquidate forcibly of all or part of the securities), such account will not be awarded any offer or commission rebate from that month.
- Eligible Customer shall still pay other relevant transaction costs, including but not limited to settlement fee, stamp duty, Securities and Futures Commission’s transaction levy and Hong Kong Stock Exchange’s trading fee. For more details, please refer to Securities Service Charge Schedule of the Bank.
- The Bank reserves the right to suspend, amend or terminate any offers, commission rebate and/or amend the Terms and Conditions thereof at any time without further notice. Should there be any disputes, the Bank reserves the final right of explanation and decision. For details of the Terms and Conditions, service charges and promotional offers of our securities service, please refer to the relevant promotional leaflets and Service Charge Schedule.
- If there is any discrepancy between the English and Chinese versions of these Terms and Conditions, the Chinese version shall prevail.
Enquiry Hotline : 230 95555
The above information does not constitute and should not be regarded as any recommendation, offer or solicitation to purchase or sell any securities. Investment involves risks and the price of securities may fluctuate or even become worthless. Losses may be incurred rather than making a profit as a result of dealing in securities. You should carefully and independently consider whether the securities are suitable for you in light of your investment experience, objectives, financial position and risk profile. This advertisement has not been authorized by the Securities and Futures Commission. Independent professional advice should be obtained if necessary. Please read the relevant terms and conditions together with the risk disclosure statements in the General Conditions for Accounts and Services before making any investment decisions.
Transactions conducted through financing obtained through pledge loans are highly risky. The losses you may suffer could exceed the amount of the cash and other assets you have deposited as pledges with us. You could be asked within a short time to deposit extra margin or pay up for the interest. If you fail to pay the required margin or interest before the designated deadline, your pledge is likely to be sold without your consent. In addition, you are also liable for any shortage of fund in your account and for the interest due. Therefore, you are kindly advised to ponder if such financing arrangements suit your financial status and investment strategies.
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