HSBC plans income plus notes tied to stocks with 5.75% potential coupon

By Angela McDaniels

Tacoma, Wash., Aug. 1 – HSBC USA Inc. plans to price income plus notes due Aug. 29, 2024 linked to the common stocks of Apple Inc., Boeing Co., Ford Motor Co., Eli Lilly and Co. and Verizon Communications Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable annually. The interest rate will be 1.5% plus (a) 4.25% 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.

The notes will price Aug. 24.

The Cusip number is 40435FDC8.

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