Examples of Currency Linked Deposit in a sentence
If any exchange rate (other than a Strike Rate) or any other matter relating to a Currency Linked Deposit is to be determined or decided on by the Bank, the Bank shall make such determination or decision in good faith and, in the case of exchange rates other than a Strike Rate, in accordance with generally accepted practices in the relevant foreign exchange market.
Customers must carefully consider whether Currency Linked Deposit (as that term is defined in Section IV of Part 3) is suitable for the Customer’s investment in light of the Customer’s financial position, investment objectives and the risks the Customer agrees to bear before investing in Currency Linked Deposit.Currency Linked Deposit is different from traditional fixed deposit in that it is a type of structured product investment that involves considerable risks.
Currency Linked Deposit is subject to both the actual and perceived measures of the creditworthiness of the Bank and there is no assurance of protection against a default by the Bank in respect of its payment obligations.
The Customer shall not withdraw Currency Linked Deposit, or request the Bank to close the Customer’s position, before its Maturity Date.
The return of Currency Linked Deposit depends on the market conditions prevailing at the fixing time on the Fixing Date.
These controls or measures may have an adverse effect on the convertibility or liquidity of a currency and may have unexpected consequences on Currency Linked Deposit.
Within 2 Banking Days after the day on which a contract for a Currency Linked Deposit has been formed pursuant to Clause 7, the Bank shall issue to the Customer a written confirmation (“Confirmation”) setting out the terms of such contract of Currency Linked Deposit.
In the worst scenario, such as the insolvency of the Bank, the Customer may lose all principal and interest of the Currency Linked Deposit.
The Customer shall not assign, mortgage, transfer, dispose of, charge, pledge or otherwise encumber any of the Customer’s title or interest of and in the Currency Linked Deposit other than to the Bank to secure the liabilities of the Customer or any other person in favour of the Bank as the Bank may agree from time to time.
These Terms and each Currency Linked Deposit shall be governed by the laws of Hong Kong.