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美股指數牛熊證結算價點計?

如美股指數牛熊證在到期日前未有觸及強制收回而提早終止,該牛熊證到期時便可進行現金結算。與美指窩輪一樣,美指牛熊證均以到期月份相關指數E-mini期貨結算價(結算價)計價,結算公式如下:

每股牛證現金結算金額 =(結算價 – 行使價)/ 換股比率 X 美元兌港元之匯率
每股熊證現金結算金額 =(行使價 – 結算價)/ 換股比率 X 美元兌港元之匯率

例子:
某納指熊證行使價為12,000點,換股比率為78,000兌1,到期日為2023年12月15日。到期當日會以12月到期的納指100期貨結算價計價。

假設於到期日納指100期貨的結算價為11,000點,美元兌港元匯率為7.8。
每股熊證現金結算金額 = (12,000 – 11,000 ) ÷ 78,000 x 7.8 = 0.1港元

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文中提及的相關資產價格、其變動以及模擬產品條款僅作教學範例用途。以上資料僅供參考,不構成任何投資建議或意見。過去表現並不代表將來的表現。無抵押結構性產品,結構性產品之價格可急升或急跌,投資者或損失所有投資。投資者應為自己作風險評估,並在需要時諮詢專業意見。
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