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Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans to price income plus notes linked to five stocks
By Toni Weeks
San Luis Obispo, Calif., Aug. 4 – HSBC USA Inc. plans to price income plus notes due Aug. 31, 2022 linked to a basket of stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the common stocks of Ford Motor Co., International Business Machines Corp., UnitedHealth Group Inc., Verizon Communications Inc. and Walgreens Boots Alliance, Inc.
Interest is payable annually. The interest rate will be 1% plus (a) 7.25% 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 Aug. 26 and settle Aug. 31.
The Cusip number is 40433B4N5.
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