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HSBC plans income plus notes on five stocks with 7% potential coupon
By Marisa Wong
Morgantown, W.Va., Jan. 13 – HSBC USA Inc. plans to price income plus notes due Jan. 30, 2023 linked to a basket of stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the common stocks of Apple Inc., Bristol-Myers Squibb Co., Ford Motor Co., Philip Morris International Inc. and Wal-Mart Stores, Inc.
Interest is payable annually. The interest rate will be 1% plus (a) 6% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
The notes will price Jan. 26 and settle Jan. 29.
The Cusip number is 40433UFK7.
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