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
By Angela McDaniels
Tacoma, Wash., April 2 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due April 30, 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 105% and 115%. The exact rate will be set at pricing.
If the final index return is negative, the payout will be par unless the index falls below the trigger level - 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 April 25 and settle on April 30.
UBS Financial Services Inc. and HSBC USA Inc. will be the underwriters.
© 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.