HSBC plans six-year buffered accrual securities tied to S&P BRIC 40

By Susanna Moon

Chicago, March 29 - HSBC USA Inc. plans to price buffered accrual securities due April 5, 2018 linked to the S&P BRIC 40 index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will accrue at 5.55% for each day that the index closes at or above the 70% coupon barrier level. Interest is payable quarterly.

If the index finishes above the 70% trigger level, the payout at maturity will be par.

Otherwise, investors will lose 1% for every 1% decline beyond 30%.

HSBC Securities (USA) Inc. is the agent.

The notes price on March 30 and settle on April 4.

The Cusip is 4042K1D42.

© 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.