Published on 7/9/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $0.126 million 20% reverse convertibles linked to Arch Coal
New York, July 9 - HSBC USA Inc. priced $0.126 million of 20% reverse convertible notes due Oct. 10, 2008 linked to Arch Coal, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Arch Coal shares fall below the protection price of $44.31, 70% of the initial price of $63.30, during the life of the notes and finish below the initial price in which case the payout will be Arch Coal shares equal to $1,000 principal amount divided by the initial price.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Reverse convertible notes
|
Underlying stock: | Arch Coal, Inc. (Symbol: ACI)
|
Amount: | $0.126 million
|
Maturity: | Oct. 10, 2008
|
Coupon: | 20%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Arch Coal shares fall below the protection price of $44.31, 70% of the initial price, and finish below the initial price, in which case Arch Coal shares equal to $1,000 principal amount divided by the initial price
|
Initial price: | $63.30
|
Protection price: | $44.31, 70% of $63.30
|
Pricing date: | July 7
|
Settlement date: | July 10
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 2.17%
|
© 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.