Retail investors in Hong Kong can rejoice! The Hong Kong Monetary Authority (HKMA) has announced a 2.00% per annum interest rate for the sixth interest payment of the iBond Series due in 2024 (Issue Number 03GB2406R, Stock Code: 4246). This reinforces the iBond’s reputation as a secure and reliable investment option.
Key Points:
- Interest Payment Date: June 24, 2024 (originally June 23rd, rescheduled due to non-business day)
- Interest Rate: 2.00% per annum (higher of prevailing Floating Rate and Fixed Rate)
- Floating Rate Calculation: Based on year-on-year changes in the Consumer Price Index (CPI) from November 2023 to April 2024 (average: 1.98%)
- Fixed Rate: 2.00%
- Significance: Provides competitive returns for investors, reflects government commitment to secure investments, promotes transparency and predictability in financial markets
Explanation of iBond Series:
- Part of the Hong Kong Government’s Retail Bond Issuance Programme
- Offers a safe and stable investment option for retail investors
- Provides regular interest payments
Benefits for Investors:
- Consistent and predictable returns
- Low risk of investment compared to stocks
- Secure investment backed by the Hong Kong government
Target Audience:
- Retail investors in Hong Kong seeking secure investments
- Individuals interested in government bonds
Additional Information:
- The HKMA press release can be found on their official website https://www.hkma.gov.hk/eng/news-and-media/press-releases/
- For further details on the iBond Series and future offerings, visit the HKMA website.
