HSBC Australia is planning to launch a new structured investment targeted at the financial planner market.
HSBC 100+ series S&P/ASX 200 Linked Investment will provide investors with 100% participation in the upside growth of the S&P/ASX200 Index, with a return cap, along with 100% capital protection at maturity, with a tenor of 4.5 years.
This will be the first product issued since Geoffrey Pidgeon was hired from Macquarie to head HSBC's wholesale wealth management business in Australia. As reported previously by SRP, Pidgeon will oversee the distribution of structured products and managed funds in the third-party financial adviser market.
Applications will open on 19 October 2009 and close on 4 December 2009.
The minimum investment amount will be A$10,000 ($8,600).
This product will appear shortly in Recent Additions (Australia).