13026 Zijin Mining Call Warrant (24421)

13026 Zijin Mining Call Warrant is a structured derivative product issued by Societe Generale, providing leveraged exposure to the share price of Zijin Mining Group, a prominent Chinese mining company focused on gold, copper, and other metals. As a call warrant, it grants holders the right, but not the obligation, to effectively benefit from potential upside in Zijin Mining's stock price until its maturity date on April 8, 2026. Key features include a strike price of 48.62 HKD, positioning it approximately 22.1% out-of-the-money based on recent underlying levels, effective gearing of around 7.3 times for amplified returns relative to the underlying asset, and an implied volatility of 53.7%, reflecting expected price fluctuations. With an outstanding quantity of about 0.83 million shares out of 70 million, it maintains moderate liquidity in the Hong Kong warrants market. This non-collateralized instrument relies on the issuer's creditworthiness and plays a role in derivatives trading by enabling investors to speculate on or hedge commodity-linked equities with defined risk parameters and time-limited exposure.