Published on 5/8/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.16 million income plus notes linked to five stocks
By Marisa Wong
Morgantown, W.Va., May 8 – HSBC USA Inc. priced $1.16 million of income plus notes due April 26, 2024 linked to five common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Bristol-Myers Squibb Co., General Motors Corp., HP Inc., Altria Group, Inc. and AT&T Inc.
Interest is payable annually. The interest rate will be 1.5% plus (a) 6.3% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Bristol-Myers Squibb Co. (NYSE: BMY), General Motors Corp. (NYSE: GM), HP Inc. (NYSE: HPQ), Altria Group, Inc. (NYSE: MO) and AT&T Inc. (NYSE: T)
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Amount: | $1,162,000
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Maturity: | April 26, 2024
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Coupon: | 1.5% plus (a) 6.3% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Initial levels: | $53.94 for Bristol-Myers, $33.99 for GM, $18.61 for HP, $72.43 for Altria, $39.94 for AT&T
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Pricing date: | April 25
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Settlement date: | April 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433U2B1
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