Published on 7/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $366,000 income plus notes on five stocks with 1% coupon floor
By Susanna Moon
Chicago, July 30 - HSBC USA Inc. priced $366,000 of income plus notes with 1% minimum coupon due July 30, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Altria Group, Inc., eBay Inc., PepsiCo, Inc., UnitedHeath Group Inc. and Wal-Mart Stores, Inc.
If every underlying stock closes above its initial level on the valuation date, the coupon will be the minimum rate of 1% plus a performance-based coupon of 8%. Otherwise, the notes will pay the minimum coupon of 1%.
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. (NYSE: MO), eBay Inc. (Nasdaq: EBAY), PepsiCo, Inc. (NYSE: PEP), UnitedHeath Group Inc. (NYSE: UNH) and Wal-Mart Stores, Inc. (NYSE: WMT)
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Amount: | $366,000
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Maturity: | July 30, 2020
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Coupon: | If every underlying stock finishes above initial level, 9%; otherwise, 1%; payable annually
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Price: | Par
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Payout at maturity: | Par
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Pricing dates: | July 25
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Settlement date: | July 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 4.2%
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Cusip: | 40432XH46
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