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 contingent income autocallables linked to Halliburton
By Marisa Wong
Madison, Wis., April 9 – HSBC USA Inc. plans to price contingent income autocallable securities due April 14, 2016 linked to the common stock of Halliburton Co., according to an FWP with the Securities and Exchange Commission.
If Halliburton shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of at least 9.9%.
The notes will be called at par of $10 plus the contingent coupon if Halliburton shares close at or above the initial share price on any of the first three quarterly determination dates.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will receive a number of Halliburton shares equal to $10 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC handling distribution.
The notes will price on April 10 and settle on April 15.
The Cusip number is 40434G619.
© 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.