Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Petrobras (Petroleo Brasileiro SA) > News item |
HSBC USA plans issue of reverse convertibles linked to Petrobras
By Jennifer Chiou
New York, Aug. 2 - HSBC USA Inc. plans to price an issue of one-year reverse convertible notes linked to Petroleo Brasileiro SA (Petrobras) stock, according to an FWP filing with the Securities and Exchange Commission.
The coupon is talked at 12%.
The pricing date and settlement date are expected to be Aug. 16 and Aug. 23, respectively.
If Petrobras stock falls by 20% or more during the life of the notes and the stock finishes below the initial share price, payout will be cash, with a full exposure to the stock's decline, or a number of Petrobras shares equal to $1,000 divided by the initial share price.
Otherwise, payout is par.
HSBC Securities (USA) Inc. is the agent.
© 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.