HSBC plans capped barrier notes tied to basket of 11 common stocks

By Tali Rackner

Norfolk, Va., Sept. 16 – HSBC USA Inc. plans to price 0% capped barrier notes due March 29, 2017 linked to an equally weighted basket of 11 common stocks, according an FWP with the Securities and Exchange Commission.

The basket includes Apple Inc., Allergan, Inc., Bank of America Corp., Bristol-Myers Squibb Co., Costco Wholesale Corp., Walt Disney Co., Google Inc., Home Depot, Inc., Merck & Co., Inc., Pfizer Inc. and Wells Fargo & Co.

If the final basket level is at least 81% of the initial level, the payout at maturity will be par plus the basket return, up to a maximum cap of 20% and a minimum payment of par.

Otherwise, investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 18 and settle on Sept. 23.

The Cusip number is 40433UAJ5

© 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.