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HSBC plans income plus notes tied to stocks with 8% potential coupon
By Susanna Moon
Chicago, June 25 – HSBC USA Inc. plans to price income plus notes due Aug. 1, 2022 linked to a basket of five common stocks, according to an FWP filing with the Securities and Exchange Commission.
The underlying companies are Ford Motor Co., International Business Machines Corp., UnitedHealth Group Inc., Verizon Communications Inc. and Walgreens Boots Alliance, Inc.
Interest will be 1%, the minimum coupon, plus 7% if each basket stock closes at or above its initial share price on the valuation date for that year. Interest is payable annually.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
The notes will price on July 28 and settle on July 31.
The Cusip number is 40433B2S6.
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