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 plans 6%-8% airbag autocallable yield notes on Southwest Airlines
By Jennifer Chiou
New York, Oct. 28 – HSBC USA Inc. plans to price 6% to 8% airbag autocallable yield optimization notes due Oct. 30, 2015 linked to Southwest Airlines Co. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The notes will be automatically called if the stock closes at or above the initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless Southwest Airlines stock finishes below the 85% conversion level, in which case the payout will be a number of Southwest Airlines shares equal to $1,000 divided by the conversion price.
The notes (Cusip: 40434D244) are expected to price on Oct. 29 and settle on Oct. 31.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
© 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.