MiniBond 和 DBS High Notes 5

太空飞人

银行公会促投资者定期检讨投资

（2008-09-20）

雷曼兄弟(Lehman Brothers)的破产将令一些结构产品的投资者蒙受损失，新加坡银行公会(ABS)昨天提醒投资者，定期检讨他们的投资，若有任何疑问，应与他们的银行接洽。

　　直接受雷曼兄弟破产所影响的投资者，主要为雷曼兄弟“迷你债券”(Minibond)票据系列以及星展高升短期债券5(DBS High Notes 5)票据的持有人。

　　银行公会昨天发表文告说，金融市场正经历前所未有的动荡，媒体报道了有关雷曼兄弟的破产将影响一些客户，尤其是结构产品的投资者。

　　文告指出：“这些产品在售卖时附上的说明书中，描述了它们的特色与风险。客户应该不时检讨他们的投资。如果有任何疑问，客户应该与他们的银行联系。”

　　本地投资者过去两年总共在雷曼兄弟的“迷你债券”票据系列投资了约5亿元。雷曼兄弟宣布破产，这笔钱是否将石沉大海至今未明。新加坡金融管理局日前表示，票据的信托人新加坡汇丰机构信托服务(HSBC Institutional Trust Services Singapore)已委任律师，探讨所有可行的选择。

　　而一些持有星展银行发行的星展高升短期债券5的客户则透露，接到银行职员通知，可能一分钱也取不回。

[ 本帖最后由 太空飞人 于 22-9-2008 03:21 PM 编辑 ]

太空飞人

新加坡银行公会(ABS) 很搞笑， 雷曼兄弟一夜间就宣布破产， 那来的极检讨呢？ 而MiniBond又是一投资就是5年的。

太空飞人

（香港综合讯）美国雷曼兄弟申请破产保护令后，昨天香港大约100名购买了雷曼迷你债券的投资者，游行到政府总部抗议，要金管局跟进事件。
　　据香港报章报道，一名投资者表示，银行职员游说他购入迷你债券时没清楚解释风险，他损失600万港元（下同，109万新元）。
　　也有投资者批评政府缺乏监管，令他们蒙受损失，要求政府介入。
　　财经事务及库务局发言人称，会关注雷曼迷你债券持有人的权益，证监会与金管局也会查证是否涉及不良推销手法。
　　发言人称，证监会与金管局过去一星期曾与雷曼兄弟管理层，雷曼迷你债券分销商联系，了解雷曼兄弟申请破产保护后对雷曼迷你债券持有人权益的影响。
　　证监会与金管局也有接触迷你债券的受托人，希望寻找出保障投资者的方法。前天，证监会与金管局的代表也与雷曼迷你债券的持有人会面，了解他们的关注。
　　迷你债券的抵押品由受托人保管。受托人正积极寻求不同的资产处理方案，并同意尽快把最新的资料通报给债券持有人考虑。就消息通报机制，证监会与金管局已分别要求债券分销商主动联系投资者，给与最新的资讯。分销商也正在谋求改善与债券持有人沟通的方法。
　　发言人又说，就债券持有人对个别分销商推销手法的投诉，证监会与金管局必定就举报切实查证。
　　前天，香港近百名手持雷曼所担保的迷你债券投资者到证监会进行投诉，会见证监会及金管局的代表。
　　有投资者在会后向传媒表示，他们受到销售迷你债券的银行误导，指有关职员从未有提及雷曼为债券的担保人，并声称迷你债券“风险极低”，投资者要求政府介入调查事件。
迷你债券的安排行雷曼亚洲前天向法院申请自行清盘。
　　迷你债券是认购金额较少，通常入场费只要1万元至数万元不等，对象为一般市民，把一向只有大户才能进场的蓝筹债券市场零售化。

[ 本帖最后由 太空飞人 于 22-9-2008 03:35 PM 编辑 ]

太空飞人

这 mini “Bond”这个Bond字， 很容易误导人以为是低风险投资。。。

[ 本帖最后由 太空飞人 于 22-9-2008 03:42 PM 编辑 ]

太空飞人

Comments by MAS Spokesperson on Lehman Brothers Minibond Programme:

"MAS has received queries from the public on structured notes arranged by Lehman Brothers under its Minibond programme.

MAS has been in contact with the Trustee for the notes, HSBC Institutional Trust Services (Singapore) Ltd. The Trustee has the power to enforce the rights of the noteholders.

The Trustee has announced that in its capacity as trustee, it is  focused on safeguarding the interests of the investors and is engaging legal counsel to explore all options available.  Noteholders under the Minibond programme should wait for further updates from the Trustee.

Noteholders who have queries on their investments in other structured notes programmes should contact either the financial institution (FI) where they purchased the product or the trustee.

Many FIs have taken steps to address their customers' queries about their investments.  We encourage all FIs to continue to proactively do so given current volatility in financial markets."

太空飞人

HONG KONG (Reuters) - More than 100 angry Hong Kong investors marched on government offices on Sunday, calling for action after losing money on structured products linked to failed U.S. investment bank Lehman Brothers Holdings Inc.
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The protesters, many of them elderly retirees, accused the government of failing to provide proper oversight and said local banks did not do enough to warn of them of the risks involved.

Many had purchased so-called "minibond" products, notes secured by swap obligations guaranteed by Lehman.

"They were misleading investors on the risk. They said the minibonds were highly stable," said W.H. Chiu, a 66-year-old retiree.

Lehman filed the largest U.S. bankruptcy case in history this month after collapsing under the weight of toxic assets, mainly related to real estate, that are now worth only a fraction of their original prices.

Chiu said he purchased about US$20,000 worth of minibonds from a branch of the Hong Kong subsidiary of Industrial and Commercial Bank of China (ICBC). He said he was still fighting to get information on the fate of his investment and feared it would end up as "rubbish."

An advertisement issued by a unit of Sun Hung Kai & Co Ltd touted the product as "a strong collection letting you invest with peace of mind," while noting in fine print that the notes involved "a high degree of risk."

LOST SLEEP, DELAYED RETIREMENT

A number of protesters, who sat cross-legged in front to the government office while chanting slogans and raising clenched fists, noted the products had been sold to elderly clients, who invested a large proportion of their savings believing them to be relatively secure.

"I also buy shares and forex products. If I lose I don't complain," said Daniel Chan, a 40-year-old computer engineer.

"This was not a bond. It was a structured note. The name was misleading. A lot of old people believed them."

Chan said he had bought HK$500,000 ($64,300) worth of minibonds through a branch of the Bank of East Asia, which had told him they were waiting for further information.

He said the Hong Kong government had a moral obligation to help the small investors burned by the investments because the advertisements used to sell them had been authorized by the Securities and Futures Commission. Chan said he didn't have the "knowledge or the money" to pursue legal action on his own.

"The government should step in. If the government don't pay, the should force the bank to pay," said Marty Chou, the managing director of a import firm. He said he'd invested US$1 million in Lehman-linked products.

The losses were devastating for some protesters. A 34-year old accountant who gave her family name as Yau said she came to the event because her elderly shopkeeper father had lost US$250,000, a large portion of his life savings.

"They told him 'It's very safe. It's just right for you. I just found out that it's a credit-linked derivative," she said. "He never thought that he would suffer any loss."

She said her mother had been unable to sleep for three nights because of the losses.

"Right now, I don't know how long they will have to postpone their retirement. It's very sad," she said. "It's a very emotional event for them. They just don't trust banks anymore."