HSBC to price callable notes with contingent return on S&P, Russell

By Devika Patel

Knoxville, Tenn., Aug. 30 – HSBC USA Inc. plans to price callable notes with contingent return due Sept. 29, 2020 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 7% to 8% if each index closes at or above its 70% coupon trigger level on the observation date for that period. The exact coupon will be set at pricing.

The notes are callable at par on any semiannual call date beginning on March 29, 2018 and ending on Sept. 29, 2020.

The payout at maturity will be par the final coupon unless either index closes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435FEV5) will price on Sept. 22 and settle on Sept. 29.

© 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.