OCBC Bank, ADDX to issue tokenised equity-linked notes
The 3-month fixed notes linked to the shares of a US tech company.
OCBC Bank has partnered with ADDX to distribute Singapore's first tokenised equity-linked structured notes to accredited investors.
The fixed coupon notes, launched in early May, is reportedly the first product issued by a Singapore bank to be distributed on ADDX's platform.
The 3-month fixed tokenised notes are linked to a US-listed tech company's shares and launched at a minimum size of US$50,000 ($67,000).
Tokenised notes could pay regular distributions at pre-defined intervals, provided no trigger events occured according to its terms.
They would also present investors with a way to view the underlying security's price movement to generate additional cashflow whilst gaining potential exposure on those securities, according to OCBC.