{"id":9322,"date":"2025-11-24T13:33:42","date_gmt":"2025-11-24T05:33:42","guid":{"rendered":"https:\/\/www.linkwayshk.com\/?page_id=9322"},"modified":"2025-12-05T10:59:02","modified_gmt":"2025-12-05T02:59:02","slug":"investor-education-fcn","status":"publish","type":"page","link":"https:\/\/www.linkwayshk.com\/?page_id=9322","title":{"rendered":"FCN"},"content":{"rendered":"\n<div class=\"wp-block-uagb-container uag-hide-tab uag-hide-mob uagb-block-ca5badf7 alignwide uagb-is-root-container\"><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uag-hide-tab uag-hide-mob uagb-block-db0d9ee6 alignwide uagb-is-root-container\">\n<h1 class=\"wp-block-heading has-ast-global-color-0-color has-text-color has-link-color with-text-shadow wp-elements-2007b3d29093291059203d88441590c4 core-heading core-heading-69fb345169324\" style=\"padding-right:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--80);font-size:64px\">INVESTOR<br>EDUCATION<\/h1>\n<\/div>\n\n\n\n<div class=\"wp-block-cover alignfull is-light has-custom-content-position is-position-center-left uag-hide-desktop has-aspect-ratio\" style=\"padding-top:240px;padding-bottom:120px;min-height:100vh;aspect-ratio:auto;min-height:unset;\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"410\" class=\"wp-block-cover__image-background wp-image-7733 size-full\" alt=\"\" src=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/09\/edu.png\" style=\"object-position:50% 50%\" data-object-fit=\"cover\" data-object-position=\"50% 50%\" srcset=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/09\/edu.png 1280w, https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/09\/edu-300x96.png 300w, https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/09\/edu-1024x328.png 1024w, https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/09\/edu-768x246.png 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\"><\/span><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\">\n<h1 class=\"wp-block-heading has-ast-global-color-0-color has-text-color with-text-shadow core-heading core-heading-69fb345169641\" style=\"font-size:36px\">INVESTOR<br>EDUCATION<\/h1>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uag-hide-tab uag-hide-mob uagb-block-64287ed1 alignwide uagb-is-root-container\">\n<div class=\"wp-block-uagb-container uagb-block-e7a79e85 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-a7027c67 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-e418f65e\">\n<div class=\"wp-block-uagb-info-box uagb-block-91a18273 uagb-infobox__content-wrap  uagb-infobox-icon-above-title uagb-infobox-image-valign-top wp-block-uagb-info-box--has-margin\"><div class=\"uagb-infobox-margin-wrapper\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\"><strong>Fixed Coupon Note (FCN)<\/strong><\/h3><\/div><\/div><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-9f0f4917\">\n<div class=\"wp-block-uagb-image alignleft uagb-block-e611e83c wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-left\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png ,https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png 780w, https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png\" alt=\"\" class=\"uag-image-6998\" width=\"700\" height=\"60\" title=\"\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-3014471b alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-info-box uagb-block-bf1ff343 uagb-infobox__content-wrap  uagb-infobox-icon-above-title uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><\/div><p class=\"uagb-ifb-desc\">Fixed Coupon Notes are a type of structured product that pays a fixed coupon to investors under a pre-defined schedule until an early redemption event occurs or upon maturity. Fixed Coupon Notes are usually linked to the performance of a single stock, a basket of stocks or stock indices, etc.<\/p><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uag-hide-tab uag-hide-mob uagb-block-da80fe35 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-7c23e03f\">\n<div class=\"wp-block-uagb-container uagb-block-9a74272f\">\n<div class=\"wp-block-uagb-container uagb-block-b5bdc578 default uagb-is-root-container\">\n<div class=\"wp-block-uagb-separator uagb-block-405405bc\"><div class=\"uagb-separator-spacing-wrapper\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-d0133485\">\n<div class=\"wp-block-uagb-separator uagb-block-d166471b\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-c6fe0c35\">\n<div class=\"wp-block-uagb-container uagb-block-af12c2cc\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-d840ce50 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-c6329373\"><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-866f7d1c\">\n<div class=\"wp-block-uagb-info-box uagb-block-c3007319 uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\">Key Features<\/h3><\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-2d3de42f\">\n<div class=\"wp-block-uagb-info-box uagb-block-085c7f3a uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\">\n<div class=\"uagb-ifb-content\">\n<ul>\n<li><p class=\"uagb-ifb-desc\">A fixed coupon amount is made on the coupon payment date.<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">The minimum tenor period is normally at least 2 months or above and at most 12 months (negotiable with issuer).<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">A Knock-out (\u201cKO\u201d) barrier level is set as a percentage of the initial fixing level of the underlying asset(s). The KO event is deemed to occur when the closing price of its underlying asset(s) is at or above the KO barrier on the relevant KO observation date. FCN will be terminated early upon the KO event with 100% notional amount being returned to the investor. If the KO event does not occur, FCN will still be valid until its early redemption or maturity.<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">If the closing price of the underlying asset(s) is below the strike price on the final observation date, the investor will receive physical delivery of the underlying asset(s) at the strike price where physical settlement is applicable to that\/those underlying asset(s).<\/p><\/li>\n<\/ul>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-f33f8db3\">\n<div class=\"wp-block-uagb-container uagb-block-d6f1d0d9\">\n<div class=\"wp-block-uagb-container uagb-block-c49b945b default uagb-is-root-container\">\n<div class=\"wp-block-uagb-separator uagb-block-6b816b02\"><div class=\"uagb-separator-spacing-wrapper\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-44f037b1\">\n<div class=\"wp-block-uagb-separator uagb-block-e71305c5\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-daf5b55c\">\n<div class=\"wp-block-uagb-container uagb-block-d5c1eeff\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-b06a3e29 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-e569cd6a\"><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-5b29945b\">\n<div class=\"wp-block-uagb-info-box uagb-block-16844822 uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\">Risk disclosure<\/h3><\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-9df52bc1\">\n<div class=\"wp-block-uagb-info-box uagb-block-5eb2a47d uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\">\n    <div class=\"uagb-ifb-content\">\n        <div class=\"uagb-ifb-title-wrap\"><\/div>\n        <p class=\"uagb-ifb-desc\">FCN may involve some or all of the following risks:<\/p>\n<ul>\n<li><p class=\"uagb-ifb-desc\">Issuer\u2019s credit risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Market risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Interest rate risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Foreign exchange risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Reinvestment risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Liquidity risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Limited secondary market<\/p><\/li>\n\n<\/ul>\n        \n    <\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-52c6bfd2\">\n<div class=\"wp-block-uagb-container uagb-block-84cdd8a3\">\n<div class=\"wp-block-uagb-container uagb-block-06e8ce16 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-separator uagb-block-e0e1fa86\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-ast-global-color-5-background-color has-background uag-hide-desktop is-content-justification-center is-layout-constrained wp-container-core-group-is-layout-aa618f60 wp-block-group-is-layout-constrained\" id=\"11\" style=\"min-height:300px;padding-top:10px;padding-bottom:10px;background-image:url(&apos;https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/07\/background05.png&apos;);background-position:50% 0;background-repeat:no-repeat;background-size:auto;\">\n<div class=\"wp-block-uagb-container uagb-block-5fcc048d alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-info-box uagb-block-a0788971 uagb-infobox__content-wrap  uagb-infobox-icon-above-title uagb-infobox-image-valign-top wp-block-uagb-info-box--has-margin\"><div class=\"uagb-infobox-margin-wrapper\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\"><strong>Fixed Coupon Note (FCN)<\/strong><\/h3><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-image alignleft uagb-block-e11ef655 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-left\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png ,https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png 780w, https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1-1024x115.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/08\/image-1.png\" alt=\"\" class=\"uag-image-6998\" width=\"500\" height=\"60\" title=\"\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-ef0a34a8 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-info-box uagb-block-0665d6da uagb-infobox__content-wrap  uagb-infobox-icon-above-title uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><\/div><p class=\"uagb-ifb-desc\">Fixed Coupon Notes are a type of structured product that pays a fixed coupon to investors under a pre-defined schedule until an early redemption event occurs or upon maturity. Fixed Coupon Notes are usually linked to the performance of a single stock, a basket of stocks or stock indices, etc.<\/p><\/div><\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-ast-global-color-5-background-color has-background uag-hide-desktop is-content-justification-center is-layout-constrained wp-container-core-group-is-layout-ac259802 wp-block-group-is-layout-constrained\" id=\"11\" style=\"min-height:418px;padding-top:0px;padding-bottom:30px\">\n<div class=\"wp-block-uagb-separator uagb-block-e9d7d6c7\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-164914e4 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-6db7eee5 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-0365de0b\"><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-fdad5dd2\">\n<div class=\"wp-block-uagb-info-box uagb-block-26f5a70f uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\">Key Features<\/h3><\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-info-box uagb-block-085c7f3a uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\">\n<div class=\"uagb-ifb-content\">\n<ul>\n<li><p class=\"uagb-ifb-desc\">A fixed coupon amount is made on the coupon payment date.<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">The minimum tenor period is normally at least 2 months or above and at most 12 months (negotiable with issuer).<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">A Knock-out (\u201cKO\u201d) barrier level is set as a percentage of the initial fixing level of the underlying asset(s). The KO event is deemed to occur when the closing price of its underlying asset(s) is at or above the KO barrier on the relevant KO observation date. FCN will be terminated early upon the KO event with 100% notional amount being returned to the investor. If the KO event does not occur, FCN will still be valid until its early redemption or maturity.<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">If the closing price of the underlying asset(s) is below the strike price on the final observation date, the investor will receive physical delivery of the underlying asset(s) at the strike price where physical settlement is applicable to that\/those underlying asset(s).<\/p><\/li>\n<\/ul>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-bf4a1fee\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-e4b9f9c1 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-0d4d1b29 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-5b8c48c7\"><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-de2e1bbe\">\n<div class=\"wp-block-uagb-info-box uagb-block-80f8a7ce uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><h3 class=\"uagb-ifb-title\">Risk disclosure<\/h3><\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-info-box uagb-block-5eb2a47d uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\">\n    <div class=\"uagb-ifb-content\">\n        <div class=\"uagb-ifb-title-wrap\"><\/div>\n        <p class=\"uagb-ifb-desc\">FCN may involve some or all of the following risks:<\/p>\n<ul>\n<li><p class=\"uagb-ifb-desc\">Issuer\u2019s credit risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Market risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Interest rate risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Foreign exchange risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Reinvestment risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Liquidity risk<\/p><\/li>\n<li><p class=\"uagb-ifb-desc\">Limited secondary market<\/p><\/li>\n\n<\/ul>\n        \n    <\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-info-box uagb-block-46b3c0fe uagb-infobox__content-wrap  uagb-infobox-icon-left uagb-infobox-left uagb-infobox-image-valign-top\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-title-wrap\"><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-uagb-container uagb-block-89bb60c8 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-image aligncenter uagb-block-9b5d04db wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-center\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\"  sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.linkwayshk.com\/wp-content\/uploads\/2025\/07\/\u5c0f\u76f4\u7ebf05_.png\" alt=\"\" width=\"1280\" height=\"3\" title=\"\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTOREDUCATION A fixed coupon amount is made on the  &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.linkwayshk.com\/?page_id=9322\"> <span class=\"screen-reader-text\">FCN<\/span> \u95b1\u8b80\u5168\u6587 &raquo;<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"parent":8936,"menu_order":41,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"body {\n    font-family: SimHei, sans-serif;\n}\nheader {\n    position: fixed 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