Looks like many Singaporeans are hungry for yield.
Just not too long after its launched, NTUC Capital Plus CPN23 has been fully subscribed and will be closed today at 12pm.
The CPN23 was giving a yield of 1.4% p.a. for a 2-year duration, which was what ICICI bank was giving for any fixed deposits less than S$50k. Quite surprising at the huge takeup as ICICI even gave higher interest rates for amounts S$50k and above.
Capital Plus CPN24, which gives a yield of 1.7% p.a. for a 2-year duration, is still available.