HSBC plans income plus notes on five stocks with 5.5% potential coupon

By Marisa Wong

Morgantown, W.Va., July 20 – HSBC USA Inc. plans to price income plus notes due July 29, 2024 linked to five common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Apple Inc., Boeing Co., Ford Motor Co., Eli Lilly and Co. and Verizon Communications Inc.

Interest is payable annually. The interest rate will be 1.5% plus (a) 4% 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 final coupon.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price July 24.

The Cusip number is 40435FBC0.

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