Published on 9/30/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.41 million income plus notes linked to five stocks
By Angela McDaniels
Tacoma, Wash., Sept. 30 – HSBC USA Inc. priced $1.41 million of income plus notes due Sept. 29, 2023 linked to the common stocks of Bristol-Myers Squibb Co., Ford Motor Co., McDonald’s Corp., Philip Morris International Inc. and Wal-Mart Stores, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually. The interest rate will be 1% plus (a) 4.5% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Income plus notes
|
| Underlying stocks: | Bristol-Myers Squibb Co. (NYSE: BMY), Ford Motor Co. (NYSE: F), McDonald’s Corp. (NYSE: MCD), Philip Morris International Inc. (NYSE: PM) and Wal-Mart Stores, Inc. (NYSE: WMT)
|
| Amount: | $1,409,000
|
| Maturity: | Sept. 29, 2023
|
| Coupon: | 5.5% if each basket stock closes at or above initial share price on relevant valuation date or 1% if one or more stocks close below initial share price; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon
|
| Initial share prices: | $55.74 for Bristol-Myers Squibb, $11.98 for Ford, $116.88 for McDonald’s, $99.33 for Philip Morris and $72.33 for Wal-Mart
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.75%
|
| Cusip: | 40433UUB0
|
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