abn-amro-launches-zero-certs-in-hong-kong

ABN Amro launches Zero Certs in Hong Kong

Local investors can get exposure to five overseas indices and gold with the bank's new warrant product.
ABN Amro is launching Hong Kong's first zero-strike participation certificates today, giving local punters a cheap and hassle-free way to invest in overseas markets.

The so-called Zero Certs will be listed on Hong Kong's stock exchange and offer exposure to stock indices in Japan, Korea, Malaysia and Thailand, as well as on Nasdaq in the US. There is also a warrant linked to the price of gold.

The certificates are, in effect, cash-settled call warrants with an exercise price near zero. In other words, the buyer ends up with an exposure that is very similar to having a long position in the underlying index, but which he can trade in Hong Kong dollars on...
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