HSBC plans income plus notes on five stocks with 1.5% minimum coupon

By Susanna Moon

Chicago, May 20 – HSBC USA Inc. plans to price income plus notes due May 2021 linked to five common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Cisco Systems, Inc., International Business Machines Corp., Merck & Co., Inc., Procter & Gamble Co. and Verizon Communications, Inc.

The coupon will be 1.5%, the minimum rate, plus an additional coupon of 1.5% if each basket stock closes at or above its initial level on the valuation date for that year. Interest is payable annually.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

The notes will price and settle in May.

The Cusip number is 40433UNB8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.