中信嘉華債券ａｂｏｕｔ雷曼兄弟？

The problem now is, as many people suspect, that Lehman, together with PIFL, have "sold" us some CDO which they re-packaged as AAA grade securities as guarantee for the mini bonds. While these CDO's are now safely kept by HSBC America as trustee, they are, as we all now know, of high risk and low market value. (The credit-linking blue chip companies that they listed actually are decoys to direct our attention away from the risk of the CDO's !) Since Lehman now cannot make the interest payments, what HSBCA will likely do as trustee is to sell them and return whatever little amonut of money received (less expenses) to us.

If there were no bankruptcy or credit even up to the maturity day (which is now unfortunately not the case) and if the CDOs have also all matured without any default, we would have gotten all our money back (plus the regular interest payments.)

We need to first check what the securities held by HSBCA are. You can ask your bank for this info. In my case Citickawah could not give me a straight answer. So I called the trustee HSBCA hotline today, and they said they would check and call me back. If the securities are indeed CDOs, we should fight and ask HSBCA to sell them at a later time when the market has improved, or to wait until these CDOs mature and hope that the issuing parties do not also go bankrupt. Nevertheless, I am not sure what will be the fees charged by HKBCA. It might be so high that it would be better so sell the CDOs now. The worst case would be if these CDOs are issued by Lehman directly, in which case we will have to join a long long queue to claim our money and will likely get vey little or nothing back.

You should also first check if the credit link list of your mb includes Lehman Brothers (I know some do). If yes, there is already an credit event which triggers early redeemption and loss in capital.

We need to press government to help us on this as it seems we need someone to lead the way.

根據本人與銀行、抵押品受託人(HK Bank Plc)聯系，取得最新資料及理解如下：
現巨鯨36 持有人現擁有抵押品實為：抵押債務證券(簡稱CDOs)的合成型證券，(一籃子內包含最多150間AAA級(5月時)債務組合)。由于至今無法取得ISIN代號，所以無法得知其穆狄最新評級。幸運地此系列【CDOs】發行人並不是雷曼。
最佳解決方法，就是由某大分銷銀行帶頭，代替雷曼以前工作做【CDS保險角色】- 掉期對手直至【CDOs】到期。因為【CDOs】實年回報平均達15厘，
做掉期對手是一盤不錯的生意，就算無錢賺，總算肯為市民負點責任，贏得商譽！