By Susanna Moon
Chicago, July 17 - HSBC USA Inc. priced $18.51 million of coupon bearing notes due July 26, 2013 linked to Valero Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 10%, payable quarterly.
If Valero Energy shares finish at or above the threshold level - 91.26% of the initial level - the payout at maturity will be par of $10.
Otherwise, investors will be exposed to losses beyond the threshold level.
Bank of America Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Coupon bearing notes
|
Underlying stock: | Valero Energy Corp. (NYSE: VLO)
|
Amount: | $18,508,800
|
Maturity: | July 26, 2013
|
Coupon: | 10%, payable quarterly
|
Price: | Par of $10
|
Payout at maturity: | Par if stock finishes at or above threshold level; otherwise, exposure to losses beyond threshold level
|
Initial price: | $24.74
|
Threshold level: | $22.58, 91.26% of initial value
|
Pricing date: | July 13
|
Settlement date: | July 20
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 1.75%
|
Cusip: | 40433M518
|
© 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.