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HSBC plans Stars linked to the Dow, Euro Stoxx, Nikkei via Merrill
By Marisa Wong
Madison, Wis., June 14 - HSBC USA Inc. plans to price 0% Strategic Accelerated Redemption Securities due June 2016 linked to a global equity basket, according to an FWP filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
The basket is comprised of the Dow Jones industrial average with a 50% weight, the Euro Stoxx 50 index with a 35% weight and the Nikkei Stock Average index with a 15% weight.
The notes will be called at par of $10 plus a call premium of 8% per year if the basket closes at or above the initial level on any of three annual observation dates.
If the notes are not called and the basket finishes at or above the threshold level, 96% to 100% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to any decline below the threshold.
The exact deal terms will be set at pricing.
The notes are expected to price in June and settle in July.
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