用户提问: ICBC 20USDPREF
Ai回答: ICBC 20USDPREF refers to a U.S、dollar-denominated preference share issued by the Industrial and Commercial Bank of China (ICBC), one of China's Big Four state-owned commercial banks、Here’s a breakdown of key details:
1、Issuer:
Industrial and Commercial Bank of China (ICBC) – The world's largest bank by total assets, listed on exchanges in Shanghai (A-shares), Hong Kong (H-shares), and via ADRs in the U.S.
2、Instrument Type:
Preference Shares (Preferred Stock):
These are hybrid securities with characteristics of both equity and debt、
Typically offer fixed or floating dividends (like bonds) but rank below debt in claims on assets、
Holders usually have no voting rights but priority over common shareholders in dividends/liquidation.
3、Currency:
USD-denominated: The shares are issued in U.S、dollars, making them accessible to international investors and hedging against RMB currency risk.
4、Key Features:
Dividend Rate: Likely fixed (e.g., 4–6% annually), but check the prospectus for exact terms、
Perpetual or Callable: Many preference shares are perpetual but may include call options for the issuer after a set period、
Cumulative/Non-Cumulative: Determines whether unpaid dividends accrue (common in Chinese bank pref shares)、
5、Listing & Trading:
Likely listed on the Hong Kong Stock Exchange (HKEX) or offshore markets (e.g., London)、
Ticker example: ICBC 20USDPREF (exact symbol may vary; confirm via Bloomberg/Reuters)、
6、Risks:
Interest Rate Sensitivity: Prices inversely correlate with interest rates、
Subordination: Lower priority than bonds in default scenarios、
Regulatory/Political Risks: ICBC is state-owned, subject to Chinese financial policies、
7、How to Verify Details:
HKEX Announcements: Search ICBC’s investor relations page for prospectuses、
Bloomberg Terminal: Use ticker or ISIN for dividend history and terms、
Brokerage Reports: Check research notes on ICBC’s capital instruments、
If you’re considering investment, compare yields against other USD bank pref shares (e.g., Bank of China, HSBC) and assess your risk tolerance、Let me know if you need help locating specific terms!
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提问时间: 2025-04-12 15:41:07
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