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Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans income plus notes on five stocks with 6.25% potential coupon
By Marisa Wong
Morgantown, W.Va., Nov. 11 – HSBC USA Inc. plans to price income plus notes due Nov. 30, 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 Coca-Cola Co., General Motors Co., Merck & Co., Inc., Philip Morris International Inc. and Verizon Communications Inc.
Interest is payable annually. The interest rate will be 1% plus (a) 5.25% 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 Nov. 24 and settle Nov. 30.
The Cusip number is 40433UCF1.
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