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HSBC plans auto cap annual income opportunity securities on 12 stocks
By Jennifer Chiou
New York, July 2 - HSBC USA Inc. plans to price annual income opportunity securities with auto cap due Aug. 1, 2013 linked to a basket of 12 common stocks and American depositary shares, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the common shares of Amgen Inc. and eBay Inc., the class B shares of Nike, Inc. and the ADSs of AstraZeneca plc, Barrick Gold Corp., Credit Suisse Group Corp., PetroChina Co. Ltd., Research In Motion Ltd., SAP Corp., Sony Corp., UBS Corp. and Vodafone Group plc.
Interest is payable annually and will equal the average of the returns on the basket stocks and ADSs, subject to a floor of 0% and a cap equal to the auto cap rate. Each stock or ADS will have a to-be-determined auto cap rate of 5% to 8% and a floor of negative 30%.
The payout at maturity will be par.
The securities will price on July 27 and settle on July 30.
HSBC Securities (USA) Inc. is the agent.
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