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 annual income opportunity notes due 2015 linked to stocks
By Angela McDaniels
Tacoma, Wash., April 3 - HSBC USA Inc. plans to price annual income opportunity notes with auto cap due April 27, 2015 linked to a basket of 10 common stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket includes American Electric Power Co., Biogen Idec Inc., Chipotle Mexican Grill, Inc., ConocoPhillips, Lockheed Martin Corp., Mosaic Co., Maxim Integrated Products, Inc., Polo Ralph Lauren Corp., Starbucks Corp. and Silver Wheaton Corp.
Interest is payable annually and will equal the average of the performances of the basket stocks, subject to a floor of zero.
A stock's performance will be equal to the auto cap rate if its return is greater than or equal to zero. The auto cap rate is expected to be at least 4.5% and will be set at pricing. If a stock's return is less than zero, its performance will be the greater of its return and negative 25%.
The payout at maturity will be par.
The notes (Cusip: 4042K1B51) will price April 24 and settle April 27.
HSBC Securities (USA) Inc. is 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.