Published on 2/26/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.55 million seven-year income plus notes on five stocks
By Devika Patel
Knoxville, Tenn., Feb. 26 – HSBC USA Inc. priced $1.55 million of income plus notes due Feb. 28, 2023 linked to five common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Apple Inc., Bristol-Myers Squibb Co., Ford Motor Co., Philip Morris International Inc. and Wal-Mart Stores, Inc.
Interest will be 1%, plus 5.25% if each basket stock closes at or above its initial share price on the valuation date for that year or otherwise 0%. Interest is payable annually.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Income plus notes
|
Underlying stocks: | Apple Inc., Bristol-Myers Squibb Co., Ford Motor Co., Philip Morris International Inc. and Wal-Mart Stores, Inc.
|
Amount: | $1,547,000
|
Maturity: | Feb. 28, 2023
|
Coupon: | 6.25% if each basket stock closes at or above initial share price on valuation date or otherwise 1%; payable annually
|
Price: | Par
|
Payout at maturity: | Par plus last coupon
|
Initial share prices: | $96.10 for Apple, $62.23 for Bristol-Myers Squibb, $12.08 for Ford, $91.46 for Philip Morris and $67.12 for Wal-Mart
|
Pricing date: | Feb. 24
|
Settlement date: | Feb. 29
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 3.75%
|
Cusip: | 40433UGQ3
|
© 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.