Risk disclosure statement

Investment involves risks, and the offering documents (where applicable) should be read for further details. Where past performance is quoted, the past performance figures shown are not indicative of future performance.

• CLD is NOT the same as NOR should it be treated as a substitute for normal time deposits NOR exchange of currency.
  
  

• CLD is NOT principal protected and is NOT protected by the Deposit Protection Scheme in Hong Kong.
  
  

• Investing in CLD is NOT the same as buying the Linked Currency directly. The amount of gain is limited to the pre-determined interest rate no matter how high the price of the Linked Currency has increased.
  
  

• CLD is embedded with currency option. Option transactions involve risks, especially when selling an option. Although the premium received from selling an option is fixed, you may sustain a loss well in excess of such premium amount, and your loss could be substantial.
  
  

• CLD is NOT supported by any collateral and its earning is subject to the market risk. You will bear the potential losses due to the fall in exchange of the Linked Currency. Such losses may reduce the principal amount AND the interest earnings. You could lose the entire principal amount in the worst case scenario.
  
  

• The return of CLD is linked to the exchange rates of the Deposit Currency against the Linked Currency. Movements in exchange rates can be unpredictable, sudden and drastic, and affected by complex political and economic factors. You must be prepared to take risk, as the principal and interest will be paid in the Deposit Currency or the Linked Currency, whichever has depreciated against the other, you will bear the potential losses due to depreciation. Such losses may reduce the interest earnings and the principal amount of the deposit substantially.
  
  

• CLD is designed to be held till maturity. You DO NOT have a right to request early termination of this product before maturity.
  
  

• CLD is NOT secured by any collateral and is subject to the credit risk / insolvency risk of the Bank. If the Bank becomes insolvent or defaults on its obligations under this product, you may lose the entire principal amount and will become an unsecured creditor of the Bank regardless of the performance of the Linked Currency.
  
  

• If the Deposit Currency and / or Linked Currency is NOT in your home currency, and you choose to convert it back to your home currency upon maturity, you may make a gain or loss due to exchange rate fluctuations.
  
  

• The Bank has the set-off and lien right to combine or consolidate any credit balances of your accounts with the Bank to set-off any liability owed by you to the Bank as described in the relevant Terms and Conditions.
  
  

• The Bank has the right to terminate the account and services as described in the relevant Terms and Conditions which may induce loss to you.
  
  

• You have to be aware of the concentration risk of investment and are reminded to avoid over-concentration of investment in CLD.
  
  

• You should assess your risk appetite and ability to bear risks before making decision regarding CLD.
  
  

• Conflict of interest may arise and affect your interest if any subsidiaries, affiliates or associates of the Bank involved in connection with the CLD, even though the Bank has internal measures in place to minimize such conflicts. Nevertheless, the Bank will act in good faith and in a commercially reasonable manner in offering CLD.
  
  

• The Bank is not liable for any failure or delay to meet its obligations caused by force majeure events as described in the relevant Terms and Conditions of CLD.

Before making any investments, you should consult your own independent advisers on the legal, regulatory, tax, investment and financial implications of the investments to ensure that you understand the nature of the investments in order to consider whether the investments are suitable investments for you.

No indication, representation, guarantee or other assurance as to the outcome of any investment has been made or will be given to you by or on behalf of the Bank. Investors should seek independent legal and financial advice.

Unless due to the negligence or wilful default of the Bank, the Bank's authorized officers, employees or agents, the Bank accepts no liability whatsoever for any loss arising from the use of and / or reliance upon this website or its contents. This website or any part hereof should not be reproduced for any purpose without the Bank's prior written approval.

	This product is NOT principal protected and is NOT protected by the Deposit Protection Scheme in Hong Kong. The contents of this website have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution before investing in this product. This section is a part of the offering documents for this product. You should not invest in this product based on this section alone. If you are in any doubt, you should obtain independent professional advice. CLD involves derivatives. The investment decision is yours but you should not invest in this product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.

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