Just spoke with two different reps (had the conversation twice to confirm). This rate is available on both the conventional (standard) mortgage, as well as the equity power mortgage (collateral mortgage). Also, the blurb below the promo section of the website shows that this applies to both:
* The annual percentage rate (APR) is based on a $ 200,000 mortgage for the applicable term assuming a property valuation fee of $250. APR means the cost of borrowing for a loan expressed as an annual rate. It includes all interest and some non-interest charges associated with the mortgage. If there are no non–interest charges, the annual interest rate and APR will be the same. Rates apply to traditional and Equity Power Mortgages and are applicable to First Mortgages only. Actual variable rate will vary depending on fluctuations to HSBC Prime Rate. All rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Some restrictions apply. The interest rate for a fixed rate mortgage is calculated half-yearly, not in advance. The interest rate for a variable rate mortgage is calculated monthly, not in advance.