Product Details |
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 Product Features |
 Eligible Stocks List |
 FAQ |
How the SMIP Works
Example (for illustration only):
Assume the customer has applied for the US-SMIP service with a monthly investment amount of US$800. The investment amount after deduction of the handling fee (US$8 per stock) will be used to purchase stocks. The number of shares/units allocated to each customer will be rounded down to the nearest whole number of shares. The actual investment amount used for purchasing stock, including handling fee, will be debited from the customer’s designated securities settlement account on the next trading day after the Purchase Date.
|
Month |
Monthly (USD) (a) |
Amount Available (USD) (b) |
Purchase (USD) (c) |
Number of (d) |
Actual (USD) (c) x (d) |
Amount (USD) (a-b) + (c x d) |
|
Jan |
800 |
792 |
118 |
6 |
708 |
716 |
|
Feb |
800 |
792 |
108 |
7 |
756 |
764 |
|
Mar |
800 |
792 |
135 |
5 |
675 |
683 |
|
Average Price per share for the stocks purchased2 from Jan to Mar (USD) |
USD 120.1666 |
|||||
|
Minimum Monthly Investment Amount |
USD100 for each stock |
|
Extra Contribution |
In integral multiples of USD100 |
|
Hold Fund Date3 |
The 15th of each month |
|
Purchase Date4 |
The next trading day after the Hold Fund Date |
|
Investment Instruction Amendment (e.g. Stock / Amount) |
Effective in the next month after receiving client’s written instruction |
|
Plan Termination5 |
Effective in next month after receiving client’s written instruction |
|
Handling Fee |
USD8.00 per stock (inclusive of but not limited to brokerage fee) |
|
Safe Custody Fee6 |
Waived |
|
Cash Dividend Collection Fee6 |
0.5% on gross dividend amount (minimum USD2.5) |
|
Monthly Investment Amount or Investment Portfolio Readjustment |
Free |
|
Plan Termination |
Free |
Notes:
1. Actual Amount for stock purchase = Customer's monthly investment amount – Handling fee (USD8 per stock)
2. Average Price per share = Total amount to be debited ÷ Total number of shares purchased
= USD 2,163 ÷ 18
= USD 120.1666
3. Under normal circumstances, the Hold Fund Date will be on the 15th of each month. If the 15th of the month is not a trading day for US market, the Hold Fund Date will be postponed to the next trading day.
4. Normally, the purchase instruction will be executed after HKT 12:00 a.m. on the Purchase Date.
5. The US SMIP will be terminated automatically without further notice if no payment is made for three consecutive months.
6. All stocks maintained in the All-in-one securities account are subject to the standard charges related to securities services, including but not limited to custody fee, nominee services charge, etc., irrespective of whether the shares are purchased through the Plan. US withholding tax will be deducted when dividends are paid.
Disclaimer:
- Investment involves risks. The prices of securities may move up or down, and may become valueless. There is an inherent risk that you may incur losses rather than gain profit as a result of buying and selling securities. It is possible that you may lose some or all of your investment as a result of conducting securities transaction. Information contained herein is for reference only. It does not constitute any offer, solicitation, or recommendation for the purchase or sale of any investment products or the provision of investment services.
- The value of investment portfolio or foreign currency or USD deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert the investment portfolio or foreign currency or USD deposit to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to build that investment portfolio or foreign currency or USD, you may suffer loss in principal.
- The information provided in this page is intended solely for informational purposes and does not constitute an offer, solicitation, invitation, or advice to subscribe to any securities or investment products.
- This material is issued by The Bank of East Asia, Limited and has not been reviewed by the Securities and Futures Commission in Hong Kong.
- The Bank of East Asia, Limited (the “Bank”, or “we”) is regulated and authorised to carry out banking activities in Hong Kong SAR. The products and services offered are intended for Hong Kong customers. It is not intended for use by any person in any jurisdiction where such use would not be permitted by law or regulation of such jurisdiction.
- The information provided is not intended for use by persons located or resided in jurisdictions where the distribution of such material may be considered as marketing or promotional and where such activity is restricted.
Please be aware that the Bank is not authorised or licensed to provide the services and/or products in other jurisdictions. We cannot guarantee that the services and products are authorised to be offered in any other jurisdiction.
