Published on 9/24/2007 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $226,000 18.05% reverse convertibles linked to Hansen Natural
By Angela McDaniels
Seattle, Sept. 24 - HSBC USA Inc. priced $226,000 of 18.05% reverse convertible notes due Dec. 27, 2007 linked to the common stock of Hansen Natural Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Hansen Natural stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Hansen Natural shares equal to $1,000 divided by the initial share price.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Reverse convertible notes
|
Underlying stock: | Hansen Natural Corp. (Symbol: HANS)
|
Amount: | $226,000
|
Maturity: | Dec. 27, 2007
|
Coupon: | 18.05%, payable monthly
|
Price: | Par
|
Payout at maturity: | If Hansen Natural stock falls below the barrier price during the life of the notes and the final share price is less than the initial share price, 19.26782 Hansen Natural shares; otherwise, par
|
Initial share price: | $51.90
|
Barrier price: | $41.52, 80% of initial share price
|
Pricing date: | Sept. 21
|
Settlement date: | Sept. 26
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.5%
|
© 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.