Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers D > Headlines for Dow Jones Industrial Average > News item |
HSBC plans contingent income barrier autocalls on three indexes
By Sarah Lizee
Olympia, Wash., Sept. 26 – HSBC USA Inc. plans to price autocallable contingent income barrier notes due Oct. 2, 2023 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Euro Stoxx Banks index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% to 11.5% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 27.
The Cusip number is 40435UYD0.
© 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.