Complaint to HKMA
Subject: Structured Products
Dear sir,
I had bought the following structured products from Shanghai Commercial Bank Ltd. in San Po Kong Branch from the Branch manager for following
1. Constellation SRN Series 63
2. Octave Notes 6
3. Octave Series 10
4. PIFL Minibond 21
5. PIFL Minibond 34 A
6. PIFL Minibond 20 A
I requested to buy mostly company bonds from them knowing the risk of default of company but they gave me the above bonds (only in statement give me the name structured products) saying they are safer from each minibonds hold 5 to 7 companies bonds. The first time I bought the Minibonds, I was informed that for Minibonds, PIFL that hold the bonds is a offshore company independent of Lehman Brother and HSBC bank USA is the Trustee to hold the securities. Last week, the bank manager informed me about the Lehman Brothers Asia Ltd. problems and he cannot get any informations about Minibonds about the pricing for Lehman Brothers responsible for the pricing. Also there are problems with Ocave Notes and Constellation. Please help me to secure my bonds from bank and also investigate about role of bank in this case . Also theinaction of you will only help internationalnbankings to steal our bonds from our structured products.
Best Regards,
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