Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Rambus Inc. > News item |
HSBC USA plans issue of 30% reverse convertibles linked to Rambus
By Angela McDaniels
Seattle, Sept. 7 - HSBC USA Inc. plans to price an issue of 30% reverse convertible notes due Dec. 29, 2006 linked to Rambus Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
HSBC Securities (USA) Inc. is the agent for the deal and JVB Financial Group, LLC is the distributor.
Interest will be paid monthly.
The notes will price on Sept. 25 and settle on Sept. 29.
Payout at maturity will be determined according to the performance of Rambus stock:
• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Rambus shares equal to $1,000 divided by the initial stock price. The knock-in price will be 65% of the initial price.
• Otherwise, investors will receive par in cash.
© 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.