This section aims to provide investors with a general overview of the Government Bond Programme (GB Programme) and some points to note when they consider investing in Government Bonds. Individual investors are advised to consult their banker, securities broker or investment adviser to obtain more information on investing in Government Bonds.
- What are Government Bonds?
- What are the types of Government Bonds?
- Why does the HKSAR Government issue Government Bonds?
- What is the credit ratings of the HKSAR Government?
- What are the benefits of investing in the Hong Kong-dollar Government Bonds?
- What are the similarities and differences between the Hong Kong-dollar Government Bonds and Exchange Fund Notes?
- How are Government Bonds issued?
- What is the role of the Hong Kong Monetary Authority?
- What affects the price of a debt security?
- What are the risks of investing in Government Bonds?
- How to measure the investment return on a Hong Kong-dollar Government Bond?
- What does the yield represent?
- What is the coupon rate and how is it different from the yield?
- Where can I obtain information about the latest yield levels and bond prices?
- What is the worth of my Government Bond holdings?
- What is accrued interest?
- What is a custody fee?
- Where can I purchase the Government Bonds?
- How can I obtain information about new issues of Government Bonds?
- What is the minimum lot size of the Government Bonds?
- Are Government Bonds subject to tax?
- When will holders of the Bonds be paid the interest normally?
- What happens if the interest payment date falls on a weekend or bank holiday?
- How can investors subscribe for a newly issued Government Bond?
- What price will retail investors pay for subscribing for a new issue of Government Bonds?
- What are the transaction costs on subscribing for Government Bonds under the Retail Tranche?
- What if the Retail Tranche of the Bonds are over-subscribed?
- How can investors hold Government Bonds?
- Can individual retail investors transfer their Government Bonds from one Recognized Dealer to another?
- How can individual investors trade Government Bonds in the secondary market?
- At what price will an investor’s instruction be carried out?
- What kinds of fees are charged by Recognized Dealers for providing the secondary-market trading services?
- What kinds of fees are charged by securities brokers or the HKSCC for providing the secondary-market trading services?
- How can individual investors sell their holdings of Government Bonds under the Retail Tranche before their maturity?
- Whom should individual investors contact if they have any queries on purchasing Government Bonds or their Government Bond holdings?