Credit Suisse Issues Four Series of Bull and Bear Certificates Based on Meituan Dianping, Tencent, Sands China, and Alibaba Group Stocks

Strategic Insights -

Credit Suisse has issued four series of Bull and Bear Certificates based on the stocks of Meituan Dianping, Tencent, Sands China, and Alibaba Group, providing investors with a range of investment opportunities. The certificates are designed to track the performance of the underlying stocks, offering a way for investors to gain exposure to the companies' growth prospects. The launch date for all four series is May 27, 2020, and the issue date is June 2, 2020.

Key Takeaways:

  • Four series of Bull and Bear Certificates have been issued by Credit Suisse, tracking the stocks of Meituan Dianping, Tencent, Sands China, and Alibaba Group.
  • The certificates are designed to provide investors with a range of investment opportunities, including bull and bear positions, with varying issue sizes and strike prices.
  • The funding cost for the certificates varies, ranging from HK$0.1898 to HK$0.2228 per CBBC, as of the launch date.
  • The issue price for all series is HK$0.250 per CBBC, with a board lot of 10,000 CBBCs.
  • The maximum number of shares to which the certificates relate ranges from 500,000 to 800,000 shares.
  • The launch date for all series is May 27, 2020, with an issue date of June 2, 2020, and a listing date of June 3, 2020.
  • The observation commencement date for all series is June 3, 2020, and the valuation date is the trading day preceding the expiry date.
  • The expiry dates for the certificates range from September 29, 2020, to November 27, 2020.
  • The effective gearing for the certificates ranges from 5.56x to 16.71x, with a premium ranging from 3.18% to 72.10%.

Statistics:

  • Total issue size: 80,000,000 CBBCs
  • Number of shares to which the certificates relate: 800,000 to 500,000 shares
  • Funding cost: HK$0.1898 to HK$0.2228 per CBBC
  • Issue price: HK$0.250 per CBBC
  • Strike price: HK$132.880, HK$406.080, HK$28.180, and HK$188.880
  • Closing price: HK$0, depending on the valuation date and underlying stock price

Sources:

  • Credit Suisse (Hong Kong) Limited, announcement regarding the issuance of four series of Bull and Bear Certificates.