Market Turnover


Issuers Credit Rating

Below is a table setting out issuers' current credit ratings awarded by the Exchange recognized rating agencies – (i) Moody's; and (ii) Standard and Poor's (S&P).  The table will generally be updated after market close when there is a change of credit rating notified by the issuer.  Users should refer to real-time information services for the latest ratings. 

Please note that the creditworthiness of the issuer and its guarantor, among other things should be considered carefully before dealing in structured products.  Details of the risk factors and credit ratings can be found in the issuers' listing documents published on the HKEXnews website.  Listing of structured products is governed by Chapter 15A of the Main Board Listing Rules.



Issuer Name

Guarantor Name
Credit Rating 1
Moody's S&P
 Based on credit rating requirement      
Bank Vontobel AG
Vontobel Holding AG
A2  -
2 BNP Paribas Issuance B.V. BNP Paribas Aa3 A+
3 Citigroup Global Markets Europe AG  N/A A1 A+ 
4 Credit Suisse AG* N/A - -
5 DBS Bank Limited N/A Aa1 AA-
6 Goldman Sachs Structured Products (Asia) Limited The Goldman Sachs Group, Inc A2 BBB+
7 The Hongkong and Shanghai Banking Corporation Limited N/A Aa3 AA-
8 J.P. Morgan Structured Products B.V. JPMorgan Chase Bank, National Association Aa2 A+
9 Macquarie Bank Limited N/A Aa2 A+
10  Morgan Stanley Asia Products Limited Morgan Stanley A1 A-
11 SG Issuer Societe Generale A1 A
12 UBS AG N/A Aa2 A+
 Based on other regulatory requirements2      
1 The Bank of East Asia, Limited N/A A3 A-
2 BOCI Asia Limited N/A - -
3 CITIC Securities Brokerage (HK) Limited N/A - - 
4 Guotai Junan Securities (Hong Kong) Limited N/A - -
5 Haitong International Securities Company Limited N/A - -
6 Huatai Financial Holdings (Hong Kong) Limited N/A - -
7 Korea Investment & Securities Asia Limited N/A - -



  1. If the structured product is a guaranteed issue, the rating shown is for the guarantor.
  2. These issuers did not meet the credit rating requirement but relied on the other regulatory requirements in accordance with the Main Board Listing Rule 15A.13(2) & (3) when the Exchange approved its application as the structured product issuer.


* Following the completion of merger of UBS AG and Credit Suisse AG, UBS AG has succeeded the obligations of Credit Suisse AG as an issuer of the structured products. For details, please refer to the issuer’s announcement available at

Updated 05 Jun 2024