Bank launches world's first $150 note in Hong Kong

Standard Chartered Plc, one of three note-issuing banks in the wealthy city of seven million, has printed 1 million of the 150-Hong-Kong-dollar notes, worth $19.35 each.

It invited people to apply for the new notes from Wednesday, offering them as collectors items with prices of 280 Hong Kong dollars each and up.

Some notes bearing what are considered lucky serial numbers, such as 888888, are to be auctioned in October with a minimum bid of 3,000 Hong Kong dollars per note.

Money from the sale of the notes is to go to local charities in what Standard Chartered has described as a "creative tribute" to the people of Hong Kong.

Standard Chartered began operations in Hong Kong in 1859, six years after it was founded, and is the oldest of the three note-issuing banks in the city. The other two are HSBC Holdings Plc and the Bank of China Ltd.