Terms and Conditions of Margin Securities Welcome Offers:

  1. The promotional period of Margin Securities Welcome Offers (“this Offer”) is from 1st February 2023 to 28th February 2023 (both dates inclusive) (“Promotional Period”). Eligible Customer (refer to clause 2 of these Terms and Conditions) must successfully open new Margin Securities Trading Account on or before 28th February 2023 in order to enjoy this Offer.
  2. This Offer is only applicable to new margin securities customer who opens new Margin Securities Trading Account of CMB Wing Lung Bank (“the Bank”) during the Promotional Period. New margin securities customer refers to customer who maintains valid new Margin Securities Trading Account opened during the Promotional Period, and has not maintained Margin Securities Trading Account in sole or joint names account with the Bank within the past 12 months preceding the opening of new Margin Securities Trading Account, and cannot cancel, terminate or close any Margin Securities Trading Account of the Bank during the Promotional Period (“Eligible Customer”).
  3. If Eligible Customer has already maintained Cash Securities Trading Account or Cash (Pledged) Securities Trading Account, opening new Margin Securities Trading Account can also enjoy this Offer.
  4. Offer 1 “HKD 1 million Margin Financing Interest-Free Experience for the First 3 Months”:
    1. Eligible Customer who is CMB Wing Lung Sunflower or general customer (except CMB Wing Lung Private Wealth Management Customer and CMB Wing Lung Private Banking Customer) and has conducted margin securities financing transactions when the new Margin Securities Trading Account takes effect and the following 2 calendar months (first 3 calendar months) ("Rebate Period") can get the rebate of the interest paid during the Rebate Period (“Rebate”). The maximum amount of Rebate during the whole Rebate Period is the amount of interest paid for the first HKD1 million equivalent of used Hong Kong Stock / US Stock / A Shares margin securities financing amount during the Rebate Period. The used margin securities financing amount will be calculated based on the average monthly margin securities financing amount during the rebate period. If the average monthly margin securities financing amount during the rebate period is equivalent to HKD1 million or below, full interest will be rebated. If the average monthly margin securities financing amount during the rebate period is more than 1 million HKD equivalent, the first 1 million HKD equivalent margin securities financing amount of interest will be rebated.
      Examples of margin securities financing interest rebate (Examples are for reference only) are as follows:
      ExamplesAverage monthly margin securities financing amount during the rebate periodLending Rate p.a.Interest Rebate PeriodInterest PaidRebate Amount
      AHKD 500,0004.875%3 MonthsApprox. HKD 6,093.75Approx. HKD 6,093.75
      BHKD 1,000,0004.875%3 MonthsApprox. HKD 12,187.5Appro HKD 12,187.5
      CHKD 1,500,0004.875%3 MonthsApprox. HKD 18,281.25Appro HKD 12,187.5
    2. Eligible Customer shall pay interest first in full according to the pre-defined annualized financing rate of the new Margin Securities Trading Account. The Bank will deposit the Rebate to the new Margin Securities Trading Account of the Eligible Customer within the next calendar month after the Rebate Period. All the settlement accounts and the new Margin Securities Trading Account of the Eligible Customer must be still valid when the Rebate is deposited.
    3. If the HK Stock traded is not settled in Hong Kong Dollar, the relevant Rebate will be converted to the equivalent Hong Kong Dollar and deposited to the new Margin Securities Trading Account. The exchange rate is determined by the Bank from time to time.
    4. The HK Stock bought through Securities Savings Scheme is not applicable to this Offer.
    5. Eligible Customer cannot enjoy brokerage, cash, interest or coupon rebate or other offers 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 calendar month for comparison, only one of the offers with the highest value will be given to the Eligible Customer. The Bank's decision shall be final and conclusive.
  5. Offer 2 “Annualized Margin Financing Rate P-1%”: Eligible Customer who opens new Margin Securities Trading Account can enjoy preferential annualized HK stock margin financing rate P-1%, US stock annualized margin financing rate P + 1%, A shares annualized margin financing rate P - 1.05%, offer until further notice. P is the HKD / USD / RMB Best Lending Rate (p.a.) of the Bank subject to fluctuations. For the Bank's HKD / USD / RMB Best Lending Rate (p.a.), please refer to the Bank's website (Home > Personal > Investment > Financial Information > Interest Rates > CMB Wing Lung Bank Best Lending Rate) or contact the Bank's enquiry hotline at 230 95555. The annualized HK stock margin financing rate shall be 4.875% if the HKD Best Lending Rate of the Bank now is 5.875% p.a., the annualized US stock margin financing rate shall be 7.50% if the USD Best Lending Rate of the Bank now is 8.50% p.a., the annualized A shares margin financing rate shall be 4.25% if the RMB Best Lending Rate of the Bank now is 5.3% p.a.
  6. Offer 3 “Waived Handling Fee for Securities Transferred under the Same Name within the Bank”: When the securities (including HK Stock / US Stock / A Shares) are transferred from Cash Securities Trading Account or Cash (Pledged) Securities Trading Account to new Margin Securities Trading Account under the same name within the Bank, the related withdrawal fee will be waived.
  7. If the Margin Securities Trading Account was liquidated forcibly by the Bank (e.g. the account maintains insufficient margin causing the Bank to liquidate forcibly of all or part of the securities), such account will not be eligible for this Offer from that calendar month. The relevant annualized margin financing rate will be charged according to the standard margin financing rate as stated on Securities Service Charges on “CMB Wing Lung Bank Tariff Guide” and “Global Securities Trading Services Charges Schedule”.
  8. Eligible Customer should still pay other relevant fees charged by the Bank and/or transaction fees, including but not limited to settlement fee, trading free, transaction levy and stamp duty, etc. For more details, please refer to Securities Service Charges on “CMB Wing Lung Bank Tariff Guide” and “Global Securities Trading Services Charges Schedule”.
  9. The Bank reserves the right to suspend, amend, terminate or cancel this Offer and/or amend these Terms and Conditions at any time without further notice. Should there be any disputes of the Terms and Conditions of this Offer, the Bank reserves the final right of explanation and decision. For details of these Terms and Conditions, service charges and promotional offers of the Bank’s securities services, please refer to the relevant promotional leaflets and Securities Services Charges on the General Banking and CMB Wing Lung Sunflower Service Charges.
  10. In case of discrepancies between the English and Chinese versions of these Terms and Conditions, the Chinese version shall prevail.

Warning: To borrow or not to borrow? Borrow only if you can repay!

Risk disclosure

The above information is for reference only and does not constitute and should not be regarded as any offer to purchase or sell. 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.

Under certain market conditions, you may find it difficult or impossible to liquidate a position. In these circumstances, your loss will not be limited to your margin and may be a substantial amount in addition. You should not participate in margin trading unless you are willing to assume the risks associated with such transaction and are financially able to absorb losses.

Statement

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