Macquarie Bank CW26 Sun Hung Kai Warrant is a non-collateralised European-style cash-settled call warrant issued by Macquarie Bank Limited. It provides investors with leveraged exposure to the ordinary shares of Sun Hung Kai Properties, a prominent Hong Kong-based real estate developer, without requiring physical delivery of the underlying shares. Key features include a strike price of 162.888, a conversion ratio of 0.1 meaning every 10 warrants relate to one underlying share, and an expiry date in July 2026. The cash settlement amount, if positive after exercise expenses, is determined by the arithmetic mean of the closing prices of the underlying shares over five business days prior to expiry, less the strike price, multiplied by the conversion ratio, payable in Singapore dollars. Listed on 27 January 2026, it trades through a scripless system with a designated market maker providing competitive bid-ask quotes during trading hours. Macquarie Bank Limited, a highly rated Australian financial institution (Aa2 by Moody's, A+ by S&P and Fitch), acts as issuer, underscoring the warrant's role in offering structured equity-linked products for market participants seeking tactical trading opportunities in the property sector.
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