Investment involves risk. You should carefully consider whether any investment products or services mentioned herein are appropriate for you in view of your investment experience, objectives, financial resources and relevant circumstances. The price of securities may move up or down and may become valueless. Losses may be incurred as well as profits made as a result of buying and selling securities.
The information in this document does not constitute an offer for the purchase of any investment in any products referred to herein.
* Security Device is required for this transaction. Please click here to apply if you do not have it.
Ref:Y9-A7-SSEC01/SEP09
Terms and Conditions
Local Securities $0 Brokerage Fee Offer (the "Offer")
1.
The Offer is valid from 15 September to 30 November 2009, both dates inclusive ("the Promotional Period").
2.
The Offer is open to all new and existing investment customers of The Hongkong and Shanghai Banking Corporation Limited, Hong Kong ("HSBC") who maintain HSBC Premier, PowerVantage or SmartVantage Integrated Investment Services Accounts or Securities Margin Trading Service Accounts or Securities Accounts with an account suffix 381 or Investment Services Portfolio Sub-accounts with account suffix 391-394, of which they are the sole or principal account holders ("Eligible Investment Accounts"). For the Offer, new investment customers are defined as customers who have not maintained or closed any Eligible Investment Accounts within six months prior to the Promotional Period.
3.
The Offer is only applicable to local securities transactions (excluding transactions made in respect of initial public offerings and Stocks Monthly Investment Plans) effected via HSBC Personal Internet Banking (www.ebanking.hsbc.com.hk/) and the Stock Express (www.hsbc.com.hk/stockexpress) through Eligible Investment Accounts during the Promotional Period ("Eligible Transactions"). Transactions effected via trading channels other than HSBC Personal Internet Banking and the Stock Express will not be entitled to the Offer.
For new investment customers with new Eligible Investment Accounts
4.
All new investment customers who have opened a new HSBC Premier Integrated Investment Services Account within the Promotional Period will enjoy $0 brokerage fee for all Eligible Transactions until the cumulative transaction total turnover of HKD2,000,000 is reached within the Promotional Period. All new investment customers who have opened Eligible Investment Accounts other than a HSBC Premier Integrated Investment Services Account within the Promotional Period will enjoy $0 brokerage fee for all Eligible Transactions until the cumulative transaction total turnover of HKD1,000,000 is reached within the Promotional Period. All subsequent transactions will be subject to standard brokerage fees.
The maximum brokerage reimbursement amounts for each customer with a new HSBC Premier Integrated Investment Services Account and other new accounts are HKD5,000 and HKD2,500 respectively.
Each new investment customer is only entitled to the offer in respect of one Eligible Investment Account. If a new investment customer opens a new HSBC Premier Integrated Investment Services Account and another investment account (as listed in clause 2), only the HSBC Premier Integrated Investment Services Account will be subject to the Offer.
Example:
Customer opens a new HSBC Premier Integrated Investment Services Account and conducts the following Eligible Transactions during the Promotional Period:
Trade Date
Investment Account
Transaction Amount
Cumulative Transaction Total Turnover during the Promotional Period
Standard Brokerage Fee
Promotional Offer Brokerage Fee
21 Sep 2009
001-234567-380
HKD1,000,000
HKD1,000,000
HKD2,500
HKD0
25 Oct 2009
001-234567-380
HKD500,000
HKD1,500,000
HKD1,250
HKD0
28 Oct 2009
001-234567-380
HKD1,000,000
HKD2,500,000
HKD2,500
HKD1,250
2 Nov 2009
001-234567-380
HKD200,000
HKD2,700,000
HKD500
HKD500
Total
HKD2,700,000
HKD6,750
HKD1,750
For the first trade in the example above, customer has yet to meet the cumulative transaction total turnover of HKD2,000,000 for HSBC Premier Integrated Investment Services Account during the Promotional Period. As a result, the first trade's brokerage is charged at a promotional $0 brokerage fee.
As the cumulative transaction total turnover after the second trade is still under HKD2,000,000, the second trade is charged at a promotional $0 brokerage fee.
In respect of the third trade, $0 brokerage fee is applicable only for that part of the transaction amount which is still within the cumulative transaction total turnover of HKD2,000,000. Hence the customer pays the standard brokerage fee of 0.25% for the amount in excess (HKD500,000 * 0.25% = HKD1,250) of the cumulative transaction total turnover.
Having already exceeded the cumulative transaction total turnover for the Promotional Period, customer pays standard brokerage fee of 0.25% for the fourth and all subsequent trades.
For the example above, customer will be required to pay the full brokerage fee of HKD6,750 upfront and will be reimbursed for HKD5,000 for Eligible Transactions.
For existing customers with Eligible Investment Accounts
5.
During the Promotional Period, a monthly targeted local securities cumulative transaction total turnover will be pre-assigned to all existing customers with Eligible Investment Accounts ("Monthly Pre-assigned Target"). The customer's Eligible Transactions will be accumulated chronologically by the individual transactions' trade dates. All Eligible Transactions exceeding the Monthly Pre-assigned Target within the month will enjoy $0 brokerage fee. The Monthly Pre-assigned Target will be reset at the first trading day of each month during the Promotional Period.
Example:
Customer with a Monthly Pre-assigned Target of HKD50,000 conducts the following Eligible Transactions during the Promotional Period:
Trade Date
Investment Account
Transaction Amount
Cumulative Transaction Total Turnover for the Month
Standard Brokerage Fee
Promotional Offer Brokerage Fee
21 Sep 2009
001-123456-380
HKD40,000
HKD40,000
HKD100
HKD100
25 Sep 2009
001-987654-381
HKD40,000
HKD80,000
HKD100
HKD25
28 Sep 2009
001-123456-380
HKD40,000
HKD120,000
HKD100
HKD0
30 Sep 2009
001-123456-380
HKD100,000
HKD220,000
HKD250
HKD0
2 Oct 2009
001-987654-381
HKD40,000
HKD40,000
HKD100
HKD100
For the first trade in the example above, the customer has yet to meet the Monthly Pre-assigned Target of HKD50,000 for the month. As a result, the first trade's brokerage is charged at the prevailing standard brokerage fee rate of 0.25%.
As the cumulative transaction total turnover after the second trade passes the Monthly Pre-assigned Target for the customer, the subsequent amount (HKD30,000 of the HKD40,000 trade) is eligible for $0 brokerage fee. Hence, the total brokerage fee charged for the second trade is HKD25 (HKD10,000 * 0.25% + HKD30,000 * 0%).
Having already met the Monthly Pre-assigned Target after the second trade, the customer is now eligible for $0 brokerage fee for all subsequent trades in the month of September. Hence the customer pays no brokerage fee for the third and fourth trade, regardless of amount.
In October, the customer will need to meet the Monthly Pre-assigned Target again to be eligible for $0 brokerage fee offer for the month. Hence, the customer's fifth trade in the example above made on 2 Oct 2009 is charged at the prevailing standard brokerage fee rate of 0.25%.
For the example above, customer will be required to pay the full brokerage fee of HKD550 for the month of September upfront and will be reimbursed for HKD425 (HKD550-HKD125) in respect of that month's Eligible Transactions.
For all new and existing customers with Eligible Investment Accounts
6.
The standard brokerage fees will be deducted upfront and the portion of waived brokerage fees will be reimbursed to the settlement account of Eligible Investment Account on or before 28 February 2010.
7.
Other transaction fees/charges still apply. These include, without limitation, deposit transaction charge (for purchase orders only), SFC transaction levy, investor compensation levy, HKEx trading fee and stamp duty.
8.
Customer will only be eligible for one of the $0 brokerage fee offers running concurrently at any point of time during the Promotional Period.
9.
Customer must not close Eligible Investment Account and/or its related settlement account on or before 28 February 2010 in order to enjoy reimbursement of the waived brokerage fees.
10.
The Offer described above is provided subject to prevailing regulatory requirements.
11.
HSBC reserves the right to change these Terms and Conditions at any time.
12.
In case of any dispute arising from this promotion, the decision of the Bank shall be final and conclusive.
13.
In the event of any inconsistency between the English and Chinese version of these terms and conditions, the English version shall apply and prevail.
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