We would like to notify you that, with effect from 01-Dec-2017, any outstanding margin loan amount exceeding the Margin Value (as defined in the table below) of your stock portfolio’s market value shall be subject to additional margin interest at the rate of 3.5% per annum.  Such interest shall accrue on a daily basis.  

 

Assuming the margin interest rate on margin financing is at prime rate plus 2.5% (P+2.5%) per annum, as from 01-Dec-2017:

1.       the margin financing interest rate of P+2.5% will continue to apply to any outstanding margin loan amounting to the Margin Value of your stock portfolio’s market  value ; and

2.       an additional interest at the rate of 3.5% per annum (i.e. P+2.5%+3.5%) will be charged on any outstanding margin loan amount exceeding the Margin Value of your stock portfolio’s market value.

Please refer to the table below for illustrative examples.

 

To safeguard your interest, we recommend that you closely monitor the margin loan level in your account and maintain sufficient funds for due and timely settlement of transactions to avoid unnecessary margin loan interest expenses.

If you have any enquiries or comments regarding this notification, please contact your Account Executive or call our customer service hotline at (+852) 2237 9338 / (+86) 400 818 0338 or via email at csi-callcentre@citics.com.hk.  

 

Yours faithfully

CITIC Securities Brokerage (HK) Limited