A minibond is very obviously a derivative.
"Maybe some people think it is a bond. I don't think that it is a bond," said chief executive, Donald Tsang Yam-kuen, at a radio phone-in.
Note: A derivative is a financial instrument that derives its value from an underlying security. Minibonds comprise high-risk, complex credit-linked derivatives.
Oh no! What would be the investors' response to this?
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