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HSBC to price Stars linked to Russell 2000, Euro Stoxx 50 indexes
By Jennifer Chiou
New York, July 29 – HSBC USA Inc. plans to price 0% Strategic Accelerated Redemption Securities due September 2015 tied to a basket of two equally weighted indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 index and the Euro Stoxx 50 index.
If the basket closes at or above the initial level on any observation date, the notes will be called at par plus a call premium of 5% to 8% per year. The observation dates will be in February 2015, May 2015 and August 2015.
Investors will receive par if the basket falls by up to 5% and will lose 1% for every 1% decline in the basket beyond 5%.
The notes will price in August and settle in September.
BofA Merrill Lynch is the underwriter.
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