HSBC in Brunei is offering a New Zealand dollar-denominated structured note paying semi-annual coupons linked to the appreciation of the Chinese yuan against the US dollar.
"Our analysts believe that the revaluation trend will not be derailed, even though the Chinese yuan appreciation may be delayed to later this year," said Jenny Lau, manager of premier and wealth management for HSBC Brunei. "This is because China is paving the way for full convertibility of its currency over the next few years and so a gradual appreciation of the yuan can be expected."
NZD 3 Years Fixed Coupon 100 percent Principal Protected Notes linked to USD/CNY is available until 7 July. Minimum subscription is NZD5,000 ($3,533).