Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to price market-linked step-up notes linked to S&P 500 via BofA
By Angela McDaniels
Tacoma, Wash., May 31 - HSBC USA Inc. plans to price 0% market-linked step-up notes due June 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is expected to be 108% to 114% of the initial index level.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, which is expected to be 8% to 14%.
If the final index level is less than the initial level, investors will be fully exposed to the decline.
The exact terms will be set at pricing.
BofA Merrill Lynch is the agent.
The notes are expected to price in June and settle in July.
© 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.