Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.68 million income plus notes with 5% potential coupon
By Marisa Wong
Morgantown, W.Va., July 10 – HSBC USA Inc. priced $3.68 million of income plus notes due June 28, 2024 linked to five common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Bristol-Myers Squibb Co., General Motors Corp., HP Inc., Altria Group, Inc. and AT&T Inc.
Interest is payable annually. The interest rate will be 1.75% plus (a) 3.25% 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 final coupon.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Bristol-Myers Squibb Co. (NYSE: BMY), General Motors Corp. (NYSE: GM), HP Inc. (NYSE: HPQ), Altria Group, Inc. (NYSE: MO) and AT&T Inc. (NYSE: T)
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Amount: | $3,684,000
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Maturity: | June 28, 2024
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Coupon: | 1.75% plus (a) 3.25% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Initial levels: | $55.90 for Bristol-Myers, $34.21 for GM, $17.77 for HP, $75.38 for Altria, $37.70 for AT&T
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433U5W2
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