Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans one-year 8% STEP Income Securities tied to salesforce.com
By Devika Patel
Knoxville, Tenn., Jan. 14 – HSBC USA Inc. plans to price 8% STEP Income Securities due February 2017 linked to the common stock of salesforce.com, inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the final price of salesforce.com stock is greater than or equal to the step level, 108% of the initial share price, the payout at maturity will be par of $10 plus the step payment, which is expected to be 1% to 5% and will be set at pricing.
If the final share price is greater than or equal to the initial share price but less than the step level, investors will receive par.
Investors will be fully exposed to any decline in the share price.
Merrill Lynch & Co. is the agent.
The notes will price in January and settle in February.
© 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.