Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC Bank USA NA > News item |
HSBC plans contingent annual income CDs linked to basket of 20 stocks
By Susanna Moon
Chicago, Aug. 28 - HSBC Bank USA, NA plans to price contingent annual income certificates of deposit due Sept. 30, 2015 linked to a basket of 20 equally weighted stocks, according to a term sheet.
The underlying stocks are Abbott Laboratories, Amazon.com, Amgen Inc., Apache Corp., AT&T Inc., Bank of America Corp., Burlington Northern Santa Fe Corp., Caremark Corp., eBay Inc.,, Exelon Corp., FPL Group, Inc., General Electric Co, Intel Corp., Newmont Mining Corp., Nucor Corp., Philip Morris International Inc., Schlumberger Ltd., State Street Corp., Target Corp. and Verizon Communications Inc.
For each stock, the coupon rate will be 9% to 14%, payable annually, if the stock finishes above its initial price. Otherwise, the rate will be zero.
The payout at maturity will be par.
The CDs will price on Sept. 23 and settle on Sept. 30.
HSBC Securities (USA) Inc. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.