HSBC plans four-year barrier rebate CDs on Market Vectors Gold Miners

By Susanna Moon

Chicago, July 1 - HSBC Bank USA, NA plans to price barrier rebate certificates of deposit due July 28, 2014 based on the performance of the Market Vectors Gold Miners exchange-traded fund, according to a term sheet.

The payout at maturity will be par plus any fund gain if the fund price stays below the 160% barrier during the life of the notes.

If the price tops the barrier at any time, the payout will be par plus a rebate return of 3% to 5% with the exact rate to be set at pricing.

The CDs will be putable on July 30, 2011, July 30, 2012 and July 30, 2013.

The CDs (Cusip: 40431GBH1) will price on July 22 and settle on July 27.

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.