| 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 0.75%-1% income and performance CDs tied to BRIC currencies
By Angela McDaniels
Tacoma, Wash., Feb. 2 - HSBC Bank USA, NA plans to price 0.75% to 1% income and performance certificates of deposit due Feb. 25, 2016 linked to a basket of currencies, according to a term sheet.
The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.
Interest will be payable annually. The exact coupon will be set at pricing.
The payout at maturity will be par plus the variable amount, which will be the greater of the sum of the weighted returns of the basket currencies relative to the dollar and zero.
The CDs will be putable on March 30, 2012, March 28, 2013, March 31, 2014 and March 31, 2015. Investors will receive the current market value of the CDs minus a redemption charge of 2.5% in year one, 1.5% in year two and 0.5% in year three.
The CDs (Cusip: 40431GMS5) will price Feb. 18 and settle Feb. 25.
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.