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Structured products

Our range of structured products make it easy for you to stay on track with your financial goals, within your risk appetite


Diversify your portfolio and meet your investment goals, whatever your attitude to risk

We offer a selection of structured products designed to meet your needs across your risk profile and investment horizon. Access a suite of assets and markets around the world, and choose from different underlying assets, tenors and interest rates. 

Why invest in our structured products

Open doors to global markets

Access a broad suite of assets including currencies, equities, indices, interest rates and markets from around the world

Personalise your investments

Enjoy investment flexibility with choices in different payoff, underlying, investment currencies and tenors to meet your needs in various market situation

Tailored to your risk appetite

Explore varying degrees of capital protection depending on your appetite for risk

Award-winning confidence

Invest with greater ease and confidence with our award-winning ELI products and online trading platform

Enjoy unlimited cash rewards for transactions made as a new customer

During the promotion period (now till 31 December 2022), new structured products customers (who did not hold or make structured product transactions between 1 April and 30 September 2022) can enjoy:

  • a HKD500 cash rebate for every subscription of any equity-linked Investment with an amount HKD200,000 or equivalent in other currencies
  • a HKD1,250 cash rebate for every subscription of any Private Placement Note (available to HSBC Jade Professional Investors only) with an amount HKD500,000 or equivalent in other currencies
  • a HKD160 cash rebate for every subscription of any capital-protected investment deposit or any Deposit Plus with an amount of HKD200,000 or equivalent in other currencies

There is no cap to the cash rebate you can earn during the promotional period.

T&Cs apply.

Find products that best suit your needs

Our new award-winning ELI online trading platform makes investing much more simple and convenient.

  • Customise your own product online
  • Use 'Scenario Analysis' to view possible payouts of the specific product selected
  • Guided journeys and filters to narrow down products according to your selection criteria
  • Reference underlying past performance
 

Capture currency market opportunities to generate interest and increase potential return starting from HKD5,000 

 

Take advantage of the foreign exchange market with 100% principal protection at maturity 

 

Increase your potential return while holding onto foreign currencies with a Capital-Protected Investment – Interest Rate Range Accrual product 

 

Access bespoke structures and guaranteed launches of globally popular and customised indices, HK and US equities—exclusive for HSBC Jade Professional Investors only

Looking for ideas?

 

Get a quick but comprehensive monthly overview of the investment market and products worth considering

 
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Catch up on the latest events across the Hong Kong, US and China A markets

 

A weekly wrap-up from our local analyst on what has happened in the FX market

 

Stay up-to-date with our latest currency exchange rates for all your foreign exchange (FX) needs

Ready to start investing?

HSBC investment account holders

Log on to HSBC Online Banking now to get started.

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Award-winning structured products and platform

Wealth Management Platform of the Year – Hong Kong

HSBC won the top award of 'Wealth Management Platform of the Year – Hong Kong' at the Asian Banking & Finance Retail Banking Awards 2022

Excellence Performance in ESG Investing Products

HSBC won the top award for 'ESG Investing Products' at the Bloomberg Businessweek – Financial Institution Awards in 2022

Structured Products Distributor of the Year

HSBC has been awarded the 'Structured Products Distributor of the Year' at the Bloomberg Businessweek – Financial Institution Awards in 2022

Find out more

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Invest in a diversified portfolio to achieve your financial goals

Disclaimer

  • The information shown on this website is neither a recommendation, an offer, nor a solicitation for any investment product or service. Investment involves risk. You should carefully consider whether any investment product or service mentioned herein is appropriate for you in view of your personal circumstances. Past performance is no guide to future performance. Investors should refer to the individual product explanatory memorandum or offering document for further details and risks involved. The price of investment products may move up or down. Losses may be incurred as well as profits made as a result of buying and selling investment products.
  • Structured products involve derivatives. The investment decision is yours but you should not invest in structured products 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.
  • Structured products are NOT equivalent to time deposits. They are not protected deposits and are not protected by the Deposit Protection Scheme in Hong Kong.
  • Issuer's risk – You will be relying on the issuer's creditworthiness. The products are subject to both the actual and perceived measures of the credit worthiness of the issuer and there is no assurance of protection against a default by the issuer in respect of their payment obligations.
  • In the worst-case scenario (eg insolvency of issuer), you may get nothing back and the potential maximum loss could be 100% of investment amount with no coupon received.
  • Deposit Plus and structured investment deposits are not available for customers who hold US nationality, who are US citizens, residents or tax payers, or hold any US address (eg a primary mailing, residence or business address in the US).

 

Important Information about sustainable investing

  • "Sustainable investments" include investment approaches or instruments which consider environmental, social, governance and/or other sustainability factors (collectively, "sustainability") to varying degrees. Certain instruments we include within this category may be in the process of changing to deliver sustainability outcomes.
  • There is no guarantee that sustainable investments will produce returns similar to those which don't consider these factors. Sustainable investments may diverge from traditional market benchmarks.
  • In addition, there is no standard definition of, or measurement criteria for sustainable investments, or the impact of sustainable investments ("sustainability impact"). Sustainable investment and sustainability impact measurement criteria are (a) highly subjective and (b) may vary significantly across and within sectors.
  • HSBC may rely on measurement criteria devised and/or reported by third party providers or issuers. HSBC does not always conduct its own specific due diligence in relation to measurement criteria. There is no guarantee: (a) that the nature of the sustainability impact or measurement criteria of an investment will be aligned with any particular investor's sustainability goals; or (b) that the stated level or target level of sustainability impact will be achieved.
  • Sustainable investing is an evolving area and new regulations may come into effect which may affect how an investment is categorised or labelled. An investment which is considered to fulfil sustainable criteria today may not meet those criteria at some point in the future.

 

Risk Disclosure - Private Placement Notes (PPN)

The following risks should be read together with the other risks contained in the "Risk Factors" section in the relevant offering documents of the PPNs

  • You should note that the information contained in this website does NOT form part of the offering documents of our PPNs. You should read all the offering documents of our PPNs (including the offering memorandum, and the indicative term sheet) before deciding whether to invest in our PPNs. If you have doubt on the content of this website, you should seek independent professional advice.
  • Not a time deposit - PPN is NOT equivalent to, nor should it be treated as a substitute for, time deposit. It is NOT a protected deposit and is NOT protected by the Deposit Protection Scheme in Hong Kong.
  • Not principal protected – some PPNs are not principal protected: you could lose all of your investment.
    Investment Return Risk –It is possible that you may not receive any potential cash dividend amount for the entire scheduled tenor of the PPNs.
  • Re-investment risk - If our PPNs are early terminated, we will pay you the nominal amount of the PPNs (less any cash settlement expenses) and any accrued potential cash dividend amount calculated up to (and including) that call date. No further potential cash dividend amount will be payable following such early termination. Market conditions may have changed and you may not be able to enjoy the same rate of return if you re-invest these proceeds in other investments with similar risk parameters.
  • No collateral – PPNs are not secured on any of our assets or any collateral.
  • Limited market making arrangements are available and you may suffer a loss if you sell your PPNs before expiry - Our PPNs are designed to be held to their settlement date. Limited market making arrangements are available on a bi-weekly basis for all our PPNs. If you try to sell your PPNs before expiry, the amount you receive for each PPN may be substantially less than the issue price you paid for each PPN.
  • Not the same as investing in the reference asset – Investing in our PPNs is not the same as investing in the reference asset. Changes in the market price of the reference asset may not lead to a corresponding change in the market value of, or your potential payout under, the PPNs.
  • Not covered by Investor Compensation Fund – Our PPNs are not listed on any stock exchange and are not covered by the Investor Compensation Fund. There may not be any active or liquid secondary market.
  • Maximum loss upon HSBC’s default or insolvency – Our PPNs constitute general, unsecured and unsubordinated contractual obligations of HSBC as issuer and of no other person (including the ultimate holding company of our group, HSBC Holdings plc). When you buy our PPNs, you will be relying on HSBC’s creditworthiness. If HSBC becomes insolvent or defaults on its obligations under the PPNs, in the worst case scenario, you could lose all of your investment.
  • Risks relating to RMB - You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government's control (for example, the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under this product when you convert RMB into your home currency. The value of your RMB-denominated PPNs will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favourable than that in which you made your original conversion to RMB, you may suffer loss in principal. This product (if denominated in RMB) will be denominated and settled in RMB deliverable in Hong Kong, which is different from that of RMB deliverable in Mainland China.
  • You may, at settlement, receive physical delivery of reference asset(s).
  • Our PPNs may be terminated early by us according to the terms as set out in offering documents of our PPNs.
  • Our PPNs are structured investment products which are embedded with derivatives.
  • Investment returns (if any) not denominated in home currency are exposed to exchange rate fluctuations. Rates of exchange may cause the value of investments to go up or down.

HSBC Bank plc/The Hongkong and Shanghai Banking Corporation Limited is the issuer and product arranger of our PPNs.

The information contained in this website have not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.

Investment involves risk. The price of structured products may move up or down. Losses may be incurred as well as profits made as a result of buying and selling structured products.

You should carefully consider whether any investment products or services mentioned herein are appropriate for you in view of your investment experience, objectives, financial resources and circumstances.

Making available to you any advertisements, marketing or promotional materials, market information or other information relating to a product or service shall not, by itself, constitute solicitation of the sale or recommendation of any product or service. If you wish to receive solicitation or recommendation from us, please contact us and, where relevant, go through our suitability assessment before transacting.

 

Risk disclosure – Deposit Plus

  • Not a time deposit – Deposit Plus is NOT equivalent to, nor should it be treated as a substitute for, time deposit. It is NOT a protected deposit and is NOT protected by the Deposit Protection Scheme in Hong Kong.
  • Derivatives risk – Deposit Plus is embedded with FX option(s). 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.
  • Limited potential gain – The maximum potential gain is limited to the interest on the deposit.
  • Maximum potential loss – Deposit Plus is not principal-protected. You must be prepared to incur loss as a result of depreciation in the value of the currency paid (if the deposit is converted to the linked currency at maturity). Such loss may offset the interest earned on the deposit and may even result in losses in the principal amount of the deposit.
  • Not the same as buying the linked currency – Investing in Deposit Plus is not the same as buying the linked currency directly.
  • Market risk – The net return of Deposit Plus will depend upon the exchange rate of the deposit currency against the linked currency prevailing at the deposit fixing time on the deposit fixing date. Movements in exchange rates can be unpredictable, sudden and drastic, and affected by complex political and economic factors.
  • Liquidity risk – Deposit Plus is designed to be held until maturity. You do not have a right to request early termination of this product before maturity. Under special circumstances, HSBC has the right to accept your early redemption request at its sole discretion and on a case by case basis. HSBC will provide an indication of the redemption price upon such request. Your return upon such early redemption will likely be lower than that if the deposit were held until maturity and may be negative.
  • Credit risk of the Bank – Deposit Plus is not secured by any collateral. When you invest in this product, you will be relying on HSBC's creditworthiness. If HSBC becomes insolvent or defaults on its obligations under this product, you can only claim as an unsecured creditor of HSBC. In the worst case, you could suffer a total loss of your deposit amount.
  • Currency risk – If the deposit currency and/or linked currency is not 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.
  • Risks relating to RMB – You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government's control (eg the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under this product. The value of your investment will be subject to the risk of exchange rate fluctuation. In case you receive RMB as the linked currency at maturity and you choose to convert your maturity proceeds to other currencies, you may suffer loss in principal. This product will be denominated (if the deposit currency is in RMB) and settled (received in RMB at maturity) in RMB deliverable in Hong Kong, which is different from that of RMB deliverable in mainland China.

 

Risk disclosure – Capital Protected Investment – Currency-linked III (CPI III)

  • Not a time deposit – CPI III is NOT equivalent to, nor should it be treated as a substitute for, time deposit. It is NOT a protected deposit and is NOT protected by the Deposit Protection Scheme in Hong Kong.
  • Derivatives risk – CPI III is embedded with FX option(s). Option transactions involve risks. If the exchange rate of the currency pair performs against expectation at the fixing time on the fixing date, you can only earn the minimum payout of the structure.
  • Limited potential gain – The maximum potential gain is limited to higher payout on the deposit less the principal amount, when exchange rate of currency pair at fixing moves in line with your anticipated direction.
  • Not the same as buying the linked currency – Investing in CPI III is not the same as buying the linked currency directly.
  • Market risk – The return of CPI III will depend upon the exchange rates of currency pair against trigger rate at the fixing time on the fixing date. Movements in exchange rates can be unpredictable, sudden and drastic, and affected by complex political and economic factors. You must be prepared to take the risk of earning the lower payout/no return (if the exchange rate performs against expectations) on the money invested.
  • Liquidity risk – CPI III is designed to be held until maturity. You do not have a right to request early termination of this product before its maturity. Under special circumstances, HSBC has the right to accept your early redemption request at its sole discretion and on a case-by-case basis. The Bank will provide an indication of the redemption price upon such request. Your return upon such early redemption will likely be lower than if the deposit were held until maturity and may be negative.
  • Credit risk of the Bank – CPI III is not secured by any collateral. When you invest in this product, you will be relying on the HSBC's creditworthiness. If HSBC becomes insolvent or defaults on its obligations under this product, you can only claim as an unsecured creditor of HSBC. In the worst case, you could suffer a total loss of your deposit amount.
  • Currency risk – If the deposit currency is not 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.
  • Risk of early termination by HSBC – HSBC shall have the discretion to uplift a deposit or any part thereof prior to the maturity date (subject to the deduction of such break costs or the addition of such proportion of the return or redemption amount, which may result in a figure less than the original principal amount of the deposit) if it determines, in its sole discretion, that this is necessary or appropriate to protect any right of HSBC to combine accounts or set-off, or any security interest, or to protect the customer's interests.
  • Risks relating to RMB – You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government's control (eg the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under this product when you convert RMB into your home currency. The value of your RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favourable than that in which you made your original conversion to RMB, you may suffer loss in principal. This product (if denominated in RMB) will be denominated and settled in RMB deliverable in Hong Kong, which is different from that of RMB deliverable in mainland China.

 

Risk disclosure – Capital-Protected Investment – Interest Rate Range Accrual

  • Not a time deposit – Interest Rate Range Accrual products are NOT equivalent to, nor should they be treated as a substitute for, time deposits. They are NOT protected deposits and are NOT protected by the Deposit Protection Scheme in Hong Kong.
  • Derivatives risk – Interest Rate Range Accrual products are embedded with interest rate option(s). Option transactions involve risks. If the interest rate reference index stays outside of the accrual range throughout the whole deposit period, you could earn no interest return.
  • Limited potential gain – The maximum potential gain is limited to the interest on the deposit calculated based on the accrual in rate.
  • Market risk – The interest return of an Interest Rate Range Accrual product will depend upon the interest rate reference index during the deposit period. Interest rate movements can be unexpected, sudden and drastic, and can be affected by complex political and economic factors. You could earn no interest return if the interest rate reference index stays outside the accrual range throughout the deposit period. You must be prepared to take the risk of earning a very low return or even no return on the money invested.
  • Liquidity risk – Interest Rate Range Accrual  products are designed to be held until maturity. You should not use them as a short-term investment vehicle. You do not have a right to request early termination of this product before maturity. Under special circumstances, HSBC has the right to accept your early redemption request at its sole discretion and on a case by case basis. HSBC will provide an indication of the redemption price upon such request. Your return upon such early redemption will likely be lower than that if the deposit were held until maturity and may be negative.
  • Credit risk of HSBC – Interest Rate Range Accrual products are not secured by any collateral. When you invest in this product, you will be relying on the HSBC's creditworthiness. If HSBC becomes insolvent or defaults on its obligations under this product, you can only claim as an unsecured creditor of HSBC. In the worst case, you could suffer a total loss of your deposit amount.
  • Currency risk – If the deposit 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.
  • Risk of early termination by HSBC – HSBC shall have the discretion to uplift a deposit or any part thereof prior to the maturity date (subject to the deduction of such break costs or the addition of such proportion of the return or redemption amount, which may result in a figure less than the original principal amount of the deposit) if it determines, in its sole discretion, that this is necessary or appropriate to protect any right of HSBC to combine accounts or set-off, or any security interest, or to protect the customer's interests.
  • Risks relating to RMB – You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government's control (eg the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under this product when you convert RMB into your home currency. The value of your RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favourable than that in which you made your original conversion to RMB, you may suffer loss in principal. This product (if denominated in RMB) will be denominated and settled in RMB deliverable in Hong Kong, which is different from that of RMB deliverable in mainland China.

 

Risk disclosure – Equity-linked Investments (ELIs)

The following risks should be read together with the other risks contained in the 'risk warnings' section in the relevant offering documents of the ELIs.

  • You should note that the information contained in this material does NOT form part of the offering documents of our ELIs. You should read all the offering documents of our ELIs (including the programme memorandum, the financial disclosure document, the relevant product booklet and the indicative term sheet and any addendum to any of such documents) before deciding whether to invest in our ELIs. If you have any doubts about the content of this material, you should seek independent professional advice.
  • Not a time deposit – ELI is NOT equivalent to, nor should it be treated as a substitute for, time deposit. It is NOT a protected deposit and is NOT protected by the Deposit Protection Scheme in Hong Kong.
  • Not principal-protected – ELIs are not principal-protected: you could lose all of your investment.
  • Limited potential gain – You may not receive any potential cash dividend amount. The maximum potential gain under this product is capped at an amount equal to the sum of the difference between the issue price and the nominal amount of the ELIs (if any, and less any cash settlement expenses) and the maximum periodic potential cash dividend amount(s) payable during the scheduled tenor (ie the period from and including the issue date, to and including the settlement date) of the ELIs. It is possible that you may not receive any potential cash dividend amount for the entire scheduled tenor of the ELIs.
  • Re-investment risk – If our ELIs are terminated early, we will pay you the nominal amount of the ELIs (less any cash settlement expenses), and any accrued potential cash dividend amount calculated up to and including that call date. No further potential cash dividend amount will be payable following such early termination. Market conditions may have changed and you may not be able to enjoy the same rate of return if you re-invest these proceeds in other investments with similar risk parameters.
  • No collateral – ELIs are not secured on any of our assets or any collateral.
  • Limited market-making arrangements are available and you may suffer a loss if you sell your ELIs before expiry. Our ELIs are designed to be held to their settlement date. Limited market making arrangements are available on a bi-weekly basis for all our ELIs. If you try to sell your ELIs before expiry, the amount you receive for each ELI may be substantially less than the issue price you paid for each ELI.
  • Not the same as investing in the reference asset – Investing in our ELIs is not the same as investing in the reference asset. Changes in the market price of the reference asset may not lead to a corresponding change in the market value of, or your potential payout under, the ELIs.
  • Not covered by the Investor Compensation Fund – Our ELIs are not listed on any stock exchange and are not covered by the Investor Compensation Fund. There may not be any active or liquid secondary market.
    Maximum loss upon HSBC's default or insolvency – Our ELIs constitute general, unsecured and unsubordinated contractual obligations of HSBC as issuer and of no other person (including the ultimate holding company of our group, HSBC Holdings plc). When you buy our ELIs, you will be relying on HSBC's creditworthiness. If HSBC becomes insolvent or defaults on its obligations under the ELIs, in the worst case scenario, you could lose all of your investment.
  • Risks relating to RMB – You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government's control (eg the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under this product when you convert RMB into your home currency. The value of your RMB-denominated ELIs will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favourable than that in which you made your original conversion to RMB, you may suffer loss in principal. This product (if denominated in RMB) will be denominated and settled in RMB deliverable in Hong Kong, which is different from that of RMB deliverable in mainland China.
    You may, at settlement, receive physical delivery of reference asset(s).
  • Our ELIs may be terminated early by us according to the terms as set out in offering documents of our ELIs.
  • Our ELIs are structured investment products which are embedded with derivatives.
  • Investment returns (if any) not denominated in home currency are exposed to exchange rate fluctuations. Rates of exchange may cause the value of investments to go up or down.

The Hongkong and Shanghai Banking Corporation Limited is the issuer and product arranger of our ELIs.

The information contained in this website have not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.

Investment involves risk. The price of structured products may move up or down. Losses may be incurred as well as profits made as a result of buying and selling structured products.

You should carefully consider whether any investment products or services mentioned herein are appropriate for you in view of your investment experience, objectives, financial resources and circumstances.

The information contained in this website does not constitute a solicitation for making any deposit or an offer for the purchase or sale or investment in any products.