HSBC plans to price Stars linked to S&P 500 via BofA Merrill Lynch

By Angela McDaniels

Tacoma, Wash., Nov. 7 – HSBC USA Inc. plans to price 0% Strategic Accelerated Redemption Securities due November 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium if the index closes at or above its initial level on any annual observation date. The call premium is expected to be 7.75% to 8.75% per year and will be set at pricing.

If the notes are not called, investors will lose 1% for every 1% that the index declines.

BofA Merrill Lynch is the agent.

The notes will price and settle in November.

© 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.