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Nomura plans capped accelerated return notes on basket of REIT stocks
By Marisa Wong
Morgantown, W.Va., Oct. 13 – Nomura America Finance, LLC plans to price 0% capped accelerated basket return securities due Oct. 21, 2019 linked to a basket of 10 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Apollo Commercial Real Estate Finance, Inc. with a 10% weight, Apollo Investment Corp. with a 10% weight, Ares Capital Corp. with an 18% weight, Ares Commercial Real Estate Corp. with a 7% weight, BlackRock Capital Investment Corp. with an 11% weight, Blackstone Mortgage Trust, Inc. with a 5% weight, FS Investment Corp. with a 15% weight, Hercules Technology Growth Capital, Inc. with a 5% weight, Starwood Property Trust, Inc. with a 14% weight and TPG Specialty Lending, Inc. with a 5% weight.
If the basket value is at least 55% of the initial value on each day during the life of the notes, the payout at maturity will be par of $1,000 plus twice the return, subject to a minimum cash settlement of $200 per $1,000 principal amount and a maximum cash settlement of $2,200 per $1,000 principal amount.
If the basket value is less than 55% of the initial value at any time during the life of the notes, a participation trigger will occur and the payout at maturity will be zero.
The initial value of the basket stocks will be the average of the daily volume-weighted averages for the 10 trading days ending on Oct. 12. The final value will be the average of the daily volume-weighted averages for the five trading days ending Oct. 16, 2019.
The basket components are subject to a multiplier which is adjusted so that ordinary cash dividends are reinvested.
Nomura Securities International, Inc. is the agent.
The notes are expected to price Oct. 14.
The Cusip number is 65539ACD0.
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