Published on 8/29/2006 in the Prospect News Convertibles Daily.
New Issue: HSBC USA prices $1.893 million 16.8% reverse convertibles linked to Intel
By Jennifer Chiou
New York, Aug. 29 - HSBC USA Inc. priced a $1.893 million issue of 16.8% reverse convertible notes due Nov. 30, 2006 linked to Intel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Intel stock declines by 15% or more during the life of the notes and it finishes below the initial price, in which case investors will receive a number of Intel shares equal to $1,000 divided by the initial price.
Issuer: | HSBC USA Inc.
|
Issue: | Reverse convertible notes
|
Underlying stock: | Intel Corp.
|
Amount: | $1.893 million
|
Maturity: | Nov. 30, 2006
|
Price: | Par
|
Coupon: | 16.8%
|
Payout at maturity: | Par unless Intel stock falls by 15% or more during the life of the notes and it finishes below the initial price, in which case a number of Intel shares equal to $1,000 divided by the initial price
|
Initial price: | $18.90
|
Pricing date: | Aug. 25
|
Settlement date: | Aug. 31
|
Agent: | HSBC Securities (USA) Inc.
|
|
© 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.