HSBC Bank Malaysia has launched its latest structured product offering investors exposure to the price performance of gold.
The Principal Protected Gold Linked FRNID is a three-year, capital-protected, Australian dollar-denominated deposit that tracks the performance of gold. The product pays a fixed annual coupon of 4.25% pa during the first two years of investment.
At maturity, investors will receive 100% of initial capital along with a bonus payout equal to the average of 12 quarterly observations that the price of gold, measured in XAU/USD is greater than 110% of the spot price and less than or equal to 150% of the barrier level.
The minimum investment is AUD25,000 ($23,000) and the closing date is 26 March 2010.
This product is available now in Recent Additions (Malaysia).