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 autocallable notes linked to JPMorgan, Goldman Sachs
By Angela McDaniels
Tacoma, Wash., May 13 - HSBC USA Inc. plans to price 0% autocallable notes due May 24, 2010 linked to the common stocks of JPMorgan Chase & Co. and Goldman Sachs Group, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will be called automatically if the worst-performing stock closes at or above its initial price on an auto redemption date. Investors will receive 124.75% of par if the notes are called on May 18, 2009, 137.125% of par if called on Nov. 17, 2009 and 149.5% of par if called on May 17, 2010.
If the notes are not called, the payout at maturity will be par if the final price of each stock is greater than or equal to its barrier price - 75% of its initial price. If the final price of the worst-performing stock is less than its barrier price, the payout will be a number of shares of the worst-performing stock equal to par divided by that stock's initial price.
The notes are expected to price on May 16 and settle on May 23.
HSBC Securities (USA) Inc. will be 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.