By Angela McDaniels
Tacoma, Wash., Oct. 28 - HSBC USA Inc. priced $327,000 of income plus notes due Oct. 29, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of AT&T Inc., General Electric Co., Hewlett-Packard Co., Intel Corp. and Pfizer Inc.
Interest is payable annually. The interest rate will be 1.5% plus (a) 4.5% if each basket stock closes at or above its initial share price on the valuation date or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Income plus notes
|
Underlying stocks: | AT&T Inc., General Electric Co., Hewlett-Packard Co., Intel Corp. and Pfizer Inc.
|
Amount: | $327,000
|
Maturity: | Oct. 29, 2020
|
Coupon: | 6% if each basket stock closes at or above its initial share price on the valuation date or 1.5% otherwise; payable annually
|
Price: | Par
|
Payout at maturity: | Par plus final coupon
|
Initial share prices: | $34.63 for AT&T; $25.94 for GE; $23.88 for Hewlett-Packard; $23.78 for Intel; $30.61 for Pfizer
|
Pricing date: | Oct. 24
|
Settlement date: | Oct. 29
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 4%
|
Cusip: | 40432XM65
|
© 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.