HSBC announces launch of Equity Linked Deposit Account
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HSBC has announced that it has launched another of its popular ELDA (Equity Linked Deposit Account), for depositors looking for security of capital * coupled with interest being paid out with ANY growth in ALL the equities linked to the account.
This ELDA issue comes in two options denominated in EUR and GBP with a minimum deposit of €2,500 and £2,500 respectively. The EUR option is linked to a stock basket composition made up of JPMorgan Chase & Co, HSBC Holdings plc, Nomura Holdings Inc and UBS Ag shares while the GBP option is linked to a stock basket composition made up of HSBC Holdings plc, Barclays PLC and Lloyds TSB Group plc shares.
Customers will receive 8% interest after the first year **, or 16% interest after the second year ** or 24% interest after the third and final year ** if all the stocks increase in prices when compared to the prices on strike date.
“HSBC’s global knowledge and expertise is giving customers once again an exciting new version of the Equity Linked Deposit Account,” said HSBC’s Head of Personal Financial Services, Godfrey Swain. “ELDA past issues have been tremendously successful, and this fresh issue will not be any different,” he added.
Closing date of this limited issue is the 2nd of May 2008, but in the case of over-subscription, HSBC reserves the right to withdraw the offer at any time prior to the closing date. For more information about ELDA one may contact Customer Service on 23802380, visit HSBC’s website at the address www.hsbc.com.mt or call at any HSBC branch around Malta and Gozo.