Published on 9/5/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $80,000 more income plus notes tied to five stocks
By Jennifer Chiou
New York, Sept. 5 - HSBC USA Inc. priced another $80,000 of income plus notes with minimum coupon due Sept. 3, 2019 linked to a basket of common stocks, bringing the total issue amount to $2.77 million, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Altria Group, Inc., Eli Lilly and Co., Lockheed Martin Corp., Procter & Gamble Co. and Verizon Communications Inc.
If every underlying stock closes above its initial level on the valuation date, the coupon will be 10.5%. Otherwise, the notes will pay the minimum coupon of 0.5%. Interest is payable annually.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Altria Group, Inc. (Symbol: MO), Eli Lilly and Co. (Symbol: LLY), Lockheed Martin Corp. (Symbol: LMT), Procter & Gamble Co. (Symbol: PG) and Verizon Communications Inc. (Symbol: VZ)
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Amount: | $2.77 million (up from $2.69 million)
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Maturity: | Sept. 3, 2019
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Coupon: | If every underlying stock finishes above initial level, 10.5%; otherwise, 0.5%
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Price: | Par
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Payout at maturity: | Par
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Initial prices: | $34.51 for Altria, $44.71 for Eli Lilly, $92.48 for Lockheed Martin, $66.99 for Procter & Gamble and $42.67 for Verizon
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Pricing dates: | Aug. 28 for $2.69 million; Aug. 31 for $88,000
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 4.2%
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Cusip: | 4042K12V4
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