Technical specification of products
Wealth management products are not deposits, products are risky, and investment must be cautious;
This product is suitable for steady, balanced, enterprising and radical investors;
List of major risks:
policy risk
market risk
liquidity risk
credit risk
Managing risk
Force majeure and unexpected risks
Note: This wealth management product is a non-guaranteed floating income product, and the bank does not guarantee the principal and income of the wealth management product. Investors should make investment decisions according to their own independent judgment.
China Postal Savings Bank (hereinafter referred to as Postal Savings Bank) solemnly reminds that this financial plan is a product with medium and low investment risks, and your principal may suffer losses due to market changes. You should fully understand the following investment risks and invest carefully. Before purchasing wealth management products, investors should ensure that they fully understand the nature of investment and the risks involved, carefully understand and carefully evaluate the basic situation of wealth management products, such as capital investment, risk types and expected rate of return, and decide to purchase wealth management products that match their own risk tolerance and asset management needs after careful consideration.
After purchasing wealth management products, investors should always pay attention to the information disclosure of wealth management products and obtain relevant information in time.
I. Product Overview
Product name "Xinxin Xiangrong" China Postal Savings Bank series RMB wealth management products.
Code: 1 100099C88
It is suitable for individual customers who are assessed as stable, balanced, enterprising and radical by bank risk assessment;
Term The financial plan will continue to operate without a fixed term (the actual product term is subject to the bank's early termination clause).
Investment and income currency RMB
Product Type Non-guaranteed floating income wealth management products
The minimum raised amount for the planned issuance is 200 million yuan.
The raising period is 2011June 13 (subscription and redemption are open every working day thereafter).
The product establishment bank has the right to terminate the offering and establishment in advance. If the product is established in advance, the bank will issue an announcement and adjust the relevant date. The final scale of the product shall be subject to the actual scale raised by the bank. If the subscription scale does not reach the planned circulation during the raising period, the Bank will make an announcement on the adjustment of the relevant raising date and amount.
If the product does not reach the issuance scale, the bank has the right to declare that the product is not established and return the product principal to the customer's capital account within 2 working days.
Start date: 20 1 1 June 13.
Purchase/redemption 1. The product has no fixed term, and it is open for purchase and redemption every open day after its establishment; Business acceptance time is 8: 30- 16: 30 every open day.
2. Investors can buy the product on the open day, and the subscription funds will be invested in the financial plan on the same day.
3. This wealth management product can be redeemed on the open day (in case of partial redemption, the remaining wealth management funds shall not be less than 50,000 yuan), and the redemption shall be confirmed on the next working day after the redemption confirmation date, and shall be recorded on the next day after the redemption confirmation date (see "Return of Principal and Income" for details).
4. The wealth management product is free of subscription and redemption fees.
5. If the net redemption amount of the financial plan exceeds 65,438+05% of the balance of the previous open day of the financial plan on any trading day during the duration of the financial plan, the bank has the right to refuse to accept the remaining redemption application, but investors can apply for redemption again on the next open day.
6. Banks have the right to decide to suspend subscription according to the product scale. If the bank exercises this right, it will issue an announcement 2 working days in advance.
The starting point for individual customers to subscribe is 50,000 yuan, increasing by integer multiples of 65,438+0,000 yuan.
Expected annualized rate of return Customers can get the highest expected annualized rate of return of different grades as follows. According to the actual duration of each financing fund when the investor redeems, the interest is calculated by grades:
Block 1: 1 day ≤ t < 7 days, 2.20% (after payment)
File 2: 7 days ≤ t < 14 days, 2.30% (after payment)
3rd gear: 14 days ≤ T < 30 days, 2.50% (after payment)
4th gear: 30 days ≤ T < 60 days, 2.70% (after payment)
5th gear: 60 days ≤ T < 90 days, 2.90% (after payment)
6th gear: T ≥90 days, 3.25% (after payment)
The income calculation method is 1. When the financial plan is redeemed, the interest shall be calculated according to the actual duration of the redeemed financial funds. Every 1 copy is an interest-bearing unit, accurate to two decimal places.
2. Expected end-of-term income = redemption of wealth management principal × expected maximum annualized rate of return of corresponding file × actual duration ÷365.
3. Actual duration: the number of days from the successful date of customer subscription (or subscription) to the date of redemption confirmation (inclusive).
Return of principal and income 1. When investors redeem this financial plan, the bank will confirm the redemption on the next working day after the redemption date.
2. The bank will transfer the principal and wealth management income to the account designated by the investor the day after the redemption confirmation date.
3. Wealth management income is calculated on the day of purchase, redemption and redemption confirmation.
China Postal Savings Bank, the custodian of wealth management assets.
Product storage fee (year) 0.05%
The right to terminate early is within the term of the financial plan. If the balance of the financial plan is less than 200 million yuan, the bank has the right to choose to terminate the product. If the product is terminated, the bank will announce it 2 working days in advance and the product will be terminated; The customer's wealth management income is calculated according to the actual duration of the customer's wealth management funds, and the wealth management principal and income will be transferred to the investor's designated account within 3 working days, which will be postponed every holiday. The customer has no right to terminate early.
Working days/open days National legal working days
The taxable income of tax financing shall be declared and paid by investors themselves.
Other provisions of the redemption confirmation date (or early termination date) to the account date, the customer's funds are not included in the income, and the interest during the raising period is calculated according to the interest of demand deposits, and the interest during the raising period is not included in the subscription principal share.
Second, the investment object
The funds raised by this product are mainly invested in financial assets with high credit rating and good liquidity in the China interbank market, and invested in other fixed-income financial assets such as exchange bonds through trust plans. It mainly includes government bonds, financial bonds, central bank bills, enterprise (company) bonds, short-term financing bills, medium-term bills, interbank deposits, interbank lending, bond repurchase, etc.
The assets to be invested in this product meet the management standards of self-operated business of Postal Savings Bank, and have been strictly examined and screened by the internal examination and approval process, reaching the investable standards. In order to meet the liquidity requirements, the proportion of this product invested in bonds and deposits with high liquidity and high principal security is 30% to 70%; The proportion of other assets is not higher than 70%. (During the duration of wealth management products, due to major changes in the market, the investment ratio may temporarily exceed the above range, and the Bank will restore the investment ratio to the above range as soon as possible based on the principle of maximizing the interests of customers. )
Three. Analysis and calculation of expenses and benefits of wealth management products
1. Related expenses borne by wealth management funds
(1) Free of subscription fee and redemption fee.
(2) The bank custody fee is 0.05%/ year; If the actual annualized rate of return of wealth management products exceeds the expected maximum annualized rate of return after deducting the custody fee, the excess will be used as the management fee and sales fee of the bank.
2. Calculation basis and calculation method of wealth management income
(1) Expected maximum annualized rate of return of products = portfolio rate of wealth management products-custody rate-management or sales rate.
According to the actual duration of each financing fund when the investor redeems, the interest shall be calculated by stages:
Block 1: 1 day ≤ t < 7 days, 2.20% (after payment)
File 2: 7 days ≤ t < 14 days, 2.30% (after payment)
3rd gear: 14 days ≤ T < 30 days, 2.50% (after payment)
4th gear: 30 days ≤ T < 60 days, 2.70% (after payment)
5th gear: 60 days ≤ T < 90 days, 2.90% (after payment)
6th gear: T ≥90 days, 3.25% (after payment)
The Postal Savings Bank will adjust the expected maximum annualized rate of return from time to time according to changes in market interest rates and capital operation, and publish relevant information announcements on the website of Postal Savings Bank (www.psbc.com) or relevant business outlets three working days before the new expected maximum annualized rate of return is activated.
(2) When the financial plan is redeemed, the interest shall be calculated according to the actual duration of the redeemed financial funds. Every 1 copy is an interest-bearing unit, accurate to two decimal places.
(3) Expected end-of-term income = redemption of wealth management principal × expected maximum annualized rate of return of corresponding file × actual duration ÷365.
Actual duration: the number of days from the successful subscription (or subscription) to the redemption confirmation date (inclusive).
(4) Calculation example
Scenario 1: Take a customer's investment of 200,000 yuan as an example. If the customer buys 200,000 yuan on May 3rd1day, it will be redeemed in full on June 9th, 20 1 1 day. For the second gear: 7 days ≤ t < 14 days, and the annualized rate of return is 2.30% (after handling fee), the final annualized rate of return of customers is 2.30%, and the specific amount of customer income is:
200000× 2.30 %×11/365 =138.63 (yuan)
Scenario 2: Take the customer's investment of 200,000 yuan as an example. If the customer buys 200,000 yuan on May 365,438+0, it will be redeemed in full on August 30, 2065,438+065,438+0 and August 365,438+0.
200000× 3.25 %× 93/365 =1656.6438+06 (yuan)
Scenario 3: Take the customer's investment of 200,000 yuan as an example. If the customer buys 200,000 yuan on May 365,438+0, it will be redeemed in full on August 30, 2065,438+065,438+0 and August 365,438+0. Assuming that the Postal Savings Bank changes six products during the period: T ≥90 days from July 201,and the annualized rate of return is adjusted from 3.25% to 3.80% (after handling fees), then from May 3 1 to June 30, it will be 201. During the 62 days from July +0 1 to August 3 1, 2065438, the interest shall be calculated at an annualized rate of return of 3.80%. The specific amount of customer income is:
200000× 3.25 %× 31/365+200000× 3.80 %× 62/365 =1843.01(yuan)
The calculated income is not equal to the actual income, so the investment needs to be cautious.
3. Payment of wealth management funds
When the investor redeems this financing plan, the bank will transfer the principal and financing income to the investor's designated account on the day after the redemption confirmation date, which will be postponed every holiday.
4. Special instructions
During the existence of the financial plan, the working days other than Saturdays, Sundays and legal holidays in China are the open days of the financial plan, and subscription and redemption are open every open day.
Fourth, risk disclosure.
Investing in this financial plan is risky. Investors should fully understand the following investment risks and invest cautiously.
(1) Policy risk. Changes in national policies, such as monetary policy, fiscal policy, industrial policy and regulatory policy, have a certain impact on the securities market, which may lead to great changes in the value and risk of investment products in the securities market, thus leading to losses in this wealth management product.
(2) Market risk. Due to the inherent volatility of the financial market, customers will face certain market risks when investing in this product.
(3) Liquidity risk. The product can only be purchased and redeemed within the agreed opening period, which may cause investors to be unable to cash it at any time when they need funds; And the product may face the risk that assets cannot be realized quickly, or the choice of realized assets will have a significant adverse impact on asset prices.
(4) Credit risk: Bonds, trust plans or other investment products invested in the financial plan may suffer losses of investment principal and income due to the failure of the issuer of the underlying assets to pay the principal and interest on time or the default of the counterparty.
(5) Managing risks. Trust companies and custodian banks are limited by skills, management level and other factors, which may affect the investment income of this financial plan and lead to the loss of financial income under this plan.
(6) Force majeure and unexpected risks. Refers to the occurrence of natural disasters, wars, stock exchange system failures and other force majeure factors, which will seriously affect the normal operation of the financial market, thus leading to the reduction or loss of assets income of this investment plan, and even affecting the normal acceptance, investment and repayment of this investment plan, thus affecting the safety of assets principal and income of this investment plan.
(VII) According to the internal rating standard of Postal Savings Bank, the risk level of this product is PR2.
China Postal Savings Bank Product Risk Rating Table
Risk grade, risk-return characteristic rating standard
Pr 1 Prudent capital preservation products, with funds invested in low-risk and low-yield investment varieties, are suitable for low-income and risk-averse investors.
PR2 is a stable non-guaranteed income product, with funds invested in low-risk and low-yield investment products or wealth management products, which is suitable for investors with low-yield and low-risk preference.
PR3 balanced non-guaranteed income products, with funds invested in the combination of medium-risk income and high-risk investment products, are suitable for investors with medium income and risk preference.
PR4 aggressive non-guaranteed income products, with funds invested in investment products with higher risks and returns, are suitable for investors with higher returns and higher risk preferences.
PR5 radical non-guaranteed income products, with funds invested in high-risk and high-yield investment products, are suitable for investors with high-yield and high-risk preference.
(This rating is an internal rating of the Postal Savings Bank for reference only)
Verb (abbreviation of verb) information disclosure
1. During the existence of this wealth management product, the Postal Savings Bank has the right to publish relevant announcements through the website of Postal Savings Bank (www.psbc.com) or relevant business outlets three working days in advance for information disclosure, such as adjusting the expected maximum annualized rate of return, supplementing, explaining and modifying the terms of the product manual, or when the Postal Savings Bank thinks that there are major unfavorable matters that may affect the normal operation of the wealth management product. If the customer disagrees with the supplementary or revised instruction, he can redeem all wealth management products before the supplementary or revised instruction takes effect, and terminate the entrusted wealth management relationship with the Postal Savings Bank.
2. If the wealth management products are terminated in advance, the Postal Savings Bank will publish relevant information announcements on the Postal Savings Bank website (www.psbc.com) or relevant business outlets within 3 working days before the actual termination date.
3. The Postal Savings Bank will timely disclose information on its website (www.psbc.com) or relevant business outlets in accordance with the requirements of laws, regulations and regulatory norms.
Evaluation of customer investment experience with intransitive verbs
1. Have you ever invested in the wealth management products of China Postal Savings Bank?
□ Yes □ No.
2. Do you have a comprehensive understanding of the risk-return characteristics of postal savings products?
□ Yes □ No.
Client's signature: China Postal Savings Bank.
Year, month, sun, moon, sun.