| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC USA to price performance securities linked to S&P 500 via UBS
By Angela McDaniels
Tacoma, Wash., Jan. 31 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due Feb. 28, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index return is positive, the payout at maturity will be par of $10 plus the final index return multiplied by a participation rate expected to be between 108.5% and 118.5%. The exact rate will be determined at pricing.
If the final index return is negative, the payout will be par unless the index falls below the trigger price - 50% of the initial index level - during the life of the notes, in which case the payout will be par plus the final index return.
The notes are expected to price on Feb. 26 and settle on Feb. 29.
UBS Financial Services Inc. will be the underwriter.
© 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.