Published on 3/11/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $16.04 million Stars linked to Ford Motor via BofA Merrill
By Susanna Moon
Chicago, March 11 - HSBC USA Inc. priced $16.04 million of 0% Strategic Accelerated Redemption Securities due March 21, 2014 linked to Ford Motor Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Ford Motor shares close at or above the initial price on any observation date, the notes will be called at an annualized rate of 17.75%.
Investors will receive par if the stock falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Strategic Accelerated Redemption Securities
|
Underlying stock: | Ford Motor Co.
|
Amount: | $16,037,050
|
Maturity: | March 21, 2014
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par if stock falls by up to 5%; 1% loss for every 1% decline beyond 5%
|
Call: | At par plus 17.75% per year if Ford Motor shares close at or above the initial price on Sept. 20, 2013, Dec. 13, 2013 or March 14, 2014, respectively
|
Initial price: | $12.84
|
Threshold level: | $12.20, or 95% of initial level
|
Pricing date: | March 7
|
Settlement date: | March 14
|
Underwriters: | BofA Merrill Lynch
|
Fees: | 1.25%
|
Cusip: | 40433T232
|
© 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.