By Marisa Wong
Madison, Wis., June 18 - HSBC USA Inc. priced $19.79 million of coupon-bearing notes due June 28, 2013 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly at the rate of 7.5% per year.
If Wells Fargo stock finishes at or above the threshold value of 87.34% of the initial value, 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 underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Coupon-bearing notes
|
Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
|
Amount: | $19,785,560
|
Maturity: | June 28, 2013
|
Coupon: | 7.5%, payable quarterly
|
Price: | Par
|
Payout at maturity: | If Wells Fargo stock finishes at or above threshold value, par; exposure to losses beyond threshold value
|
Initial price: | $31.86
|
Threshold value: | $27.83, 87.34% of initial price
|
Pricing date: | June 14
|
Settlement date: | June 21
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 1.75%
|
Cusip: | 40433M732
|
© 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.