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HSBC plans income plus notes tied to stocks with 9% potential coupon
By Angela McDaniels
Tacoma, Wash., May 1 - HSBC USA Inc. plans to price income plus notes due June 1, 2021 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 Altria Group, Inc., Bristol-Myers Squibb Co., ConocoPhillips, Kraft Foods Group, Inc. and McDonald's Corp.
Interest is payable annually. The interest rate will be 1% plus (a) 8% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
The notes will price May 23 and settle May 29.
The Cusip number is 40432XZ87.
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