| 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 four-year market-linked step-up notes tied to index basket
By Marisa Wong
Madison, Wis., Nov. 6 – HSBC USA Inc. plans to price market-linked step-up notes due November 2018 linked to a basket of indexes, according to an FWP with the Securities and Exchange Commission.
The basket consists of the S&P 500 index and the Euro Stoxx 50 index, each with an initial weight of 50%.
If the basket finishes at or above the step-up value – 120% to 126% of the initial level – the payout at maturity will be par of $10.00 plus the gain.
If the basket finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 20% to 26%.
If the basket finishes at or above the threshold level, 90% of the initial level, the payout will be par.
Investors will be exposed to any decline beyond 10%.
The notes will price in November and settle in December.
BofA Merrill Lynch is the agent.
© 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.