Experience of investor (2)

Hello Mr Tan:

Please find the attachments that bank X sent to me when they sold me the Minibonds Series 2 and 3. I note the following:

1. These investments are For defensive investors seeking exposure to high grade assets that provide steady & enhanced yields
2. Product Summary - 100% money back at maturity
3. Benefits of MiniBonds - Low risk and easy to understand
4. Benefits of MiniBonds - High quality and low risk entities have been selected
5. Risk to Investor - Investors are at risk where one of the selected entities experiences a Credit Event. No mention was made on risk of the issuer Lehman Brothers. I was also not told Lehman Brothers swap the fund with another counterparty to exchange the risk of the underlying stocks, and that if Lehman are bankrupt, they can default on the swap payment.

Clearly the above is misrepresentation by the bank! Based on these supporting documents, can I go after the bank for my money? After all, they promised 100% money back!! Your advice will be appreciated, thank you!

REPLY
You can lodge a complaint with the CEO of the Bank and take it later to FiDREC (www.fidrec.com.sg).