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HSBC plans 10-year contingent income barrier notes linked to S&P 500
By Susanna Moon
Chicago, June 12 - HSBC USA Inc. plans to price contingent income barrier notes due March 28, 2016 linked to S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7% if the index closes at or above the 75% coupon barrier level on the determination date for that month.
If the index finishes at or above the 55% trigger level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
The notes will price on June 25 and settle on June 28.
The Cusip number is 40432XGV7.
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