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 plans autocallable optimization notes on Bank of America via UBS
By Susanna Moon
Chicago, April 20 - HSBC USA Inc. plans to price 0% autocallable optimization securities with contingent protection due May 2, 2011 based on Bank of America Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
If the price of Bank of America stock closes above the initial share price on any monthly observation date, the notes will be called and investors will receive par of $10 plus an annualized return of 15% to 20%, with the exact percentage to be set at pricing.
The payout at maturity will be par if the final share price is at least 70% of the initial price. Otherwise, investors will receive par plus the share price return.
The notes are expected to price on April 27 and settle on April 30.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
© 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.