Green Bond - Bond vs 4252

[shri]

I can certainly enter 4252 into HSBC and place a buy order. Trading @ 99.8 / 99.85 spread.

No clue how the retail trading and all work ..

[chris_in_hk]

The green bond has been assigned the 4252 stock ticker on the HK stock market. They are one and the same. You can now buy it and sell it just like anything else on the HK stock market.

Stock tickers can be given to stocks, bonds and ETF's. It's just a number. The green bond is a bond so if you hold it to maturity you will get back the $100 you paid for it. You'll just have been paid the interest every 6 months. And the 4252 stock ticker will be retired on maturity.

I suspect the price you saw on HSBC's bond screener was out of date and that Google will take a little bit of time to catch up on this new listing.

[traineeinvestor]

HSBC retail was quoting 101.75 to buy more this afternoon. Not sure if that's worth it?

[freeier]

why not just buy as a stock from the exchange.. was trading at 99.70.

Say pricing this as a 3y.. the current HKD 3y IRS is at close to 2.95%.. so technically if the RGB pays just 2.5% it will be below par. But the RGB coupon is a CPI linked coupon floored at 2.5%.. so that option values something..

Abit difficult to evaluate the fair price even if you are a financial engineer, since that call is on the CPI number and not just the rates.. anyway if your transaction cost is low (i.e. don't trade thru the HSBC/BOC bond desk) then it'd probably be worth the catch if this falls to 99 or so i guess... even though it should not fall to that level.. the bet is now on whether the linked inflation versus the rates.. which one will realize more.

[shri]

Random question. Is this a stamp duty exempt stock?

How does one find out?

Never mind.. The HKEX has a spreadsheet and it is exempt from what I see.

[traineeinvestor]

Random question. Is this a stamp duty exempt stock?

How does one find out?

Never mind.. The HKEX has a spreadsheet and it is exempt from what I see.

Page 11:

https://www.hkgb.gov.hk/en/others/do...l_2022_ENG.pdf

[shri]

Found it here:

https://www.hkex.com.hk/-/media/HKEX...y.xlsx?noembed

[jobin]

When these Green Bonds are bought on the secondary market, as HK shares 4252, is there a maximum purchase of shares number or total cost?

In other words, can i buy all i want?

[chris_in_hk]

It's a stock market. You can buy as many of any stock as you like, if you have the money, and people are willing to sell it to you.