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HSBC plans income plus CDs on five stocks with 0.5% minimum coupon
By Marisa Wong
Madison, Wis., Dec. 17 - HSBC USA Inc. plans to price income plus CDs with minimum coupon due Dec. 27, 2019 linked to a basket of common stocks, according to an FWP with the Securities and Exchange Commission.
The underlying companies are AT&T Inc., Bristol-Myers Squibb Co., ConocoPhillips, Intel Corp. and Walgreen Co.
If every underlying stock closes above its initial level on a coupon valuation date, the coupon will be the minimum rate of 0.5% plus a performance-based coupon of at least 3.25%. The exact rate will be set at pricing. Otherwise, the CDs will pay the minimum coupon of 0.5%. Interest will be payable annually.
The payout at maturity will be par.
The CDs (Cusip: 40431G4X4) will price on Dec. 21 and settle on Dec. 27.
HSBC Securities (USA) Inc. is the agent. Advisors Asset Management, Inc. is the distributor.
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