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HSBC to price one-year contingent income barrier notes tied to Apple
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – HSBC USA Inc. plans to price autocallable contingent income barrier notes due Jan. 20, 2017 linked to the common stock of Apple Inc., according to an FWP filed with the Securities and Exchange Commission.
If the stock closes at or above the 80% downside threshold level on a quarterly determination date, investors will receive a contingent quarterly payment of 2.675% to 2.925% for that period. The exact rate will be set at pricing.
If the stock closes at or above the initial price on any quarterly determination date, the notes will be called at par plus the contingent payment.
If the notes are not called and the shares finish at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Apple stock reflecting full exposure to the stock’s decline.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Jan. 14 and settle on Jan. 20.
The Cusip number is 40433UGF7.
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