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 contingent income barrier autocallables on three stocks
New York, May 2 – HSBC USA Inc. plans to price 10.75% autocallable contingent income barrier notes due May 9, 2021 linked to the least performing of the American Depositary Shares of Alibaba Group Holding Ltd. and the common stocks of Bank of America Corp. and Procter & Gamble Co., according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.75% if each stock closes at or above its coupon trigger, 60% of its initial share price, on the observation date for that quarter.
Starting Nov. 9, 2018, the notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date prior to maturity.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% barrier, in which case investors will be fully exposed to the decline of the worst-performing stock.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 4 and settle on May 9.
The Cusip number is 40435FZY6.
© 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.