Published on 4/16/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.44 million coupon-bearing notes linked to Corning
By Toni Weeks
San Diego, April 16 - HSBC USA Inc. priced $11.44 million of coupon-bearing notes due April 26, 2013 linked to the common stock of Corning Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at the rate of 8% per year.
If Corning shares finish at or above the threshold value of $12.52, 91.15% of the initial price, the payout at maturity will be par of $10. Investors will share in losses beyond the threshold value.
Bank of America Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Coupon-bearing notes
|
Underlying stock: | Corning Inc. (NYSE: GLW)
|
Amount: | $11,442,360
|
Maturity: | April 26, 2013
|
Coupon: | 8%, payable quarterly
|
Price: | Par of $10
|
Payout at maturity: | If stock finishes at or above 91.15% of initial value, par; otherwise, exposure to losses beyond threshold value
|
Initial price: | $13.74
|
Threshold value: | $12.52, 91.15% of initial value
|
Pricing date: | April 12
|
Settlement date: | April 19
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 1.75%
|
Cusip: | 40433K181
|
© 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.