HSBC plans six-year contingent income barrier notes on S&P MidCap 400

By Tali Rackner

Norfolk, Va., Dec. 15 – HSBC USA Inc. plans to price contingent income barrier notes due December 2021 linked to the S&P MidCap 400 ETF Trust, according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 5% if the fund closes at or above the 60% coupon barrier level on the determination date for that quarter.

If the fund finishes at or above the 60% trigger level, the payout at maturity will be par of $1,000 plus the contingent payment.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price and settle in December.

The Cusip number is 40433UFC5.

© 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.