| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
HSBC Bank to price knock-out barrier CDs linked to S&P 500 index
By Jennifer Chiou
New York, March 2 - HSBC Bank USA, NA plans to price 0% knock-out barrier certificates of deposit due March 30, 2016 linked to the S&P 500 index, according to a term sheet.
If the index remains below the knock-out barrier of 145% to 155% of the initial level during the life of the CDs, investors will receive par plus the index return. If the index closes at or beyond the barrier, the payout will be par plus the 8% knock-out return. The exact terms will be set at pricing.
The CDs will be putable on March 30, 2012, March 28, 2013, March 31, 2014 and March 31, 2015.
The CDs (Cusip: 40431GPB9) will price on March 24 and settle on March 29.
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.