HSBC to price Strategic Accelerated Redemption Securities on stocks

By Sarah Lizee

Olympia, Wash., Aug. 22 – HSBC USA Inc. plans to price 0% Strategic Accelerated Redemption Securities due August 2022 linked to the worst performing of three financial sector stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying stocks are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.

The notes will be called at a premium of 17% to 21% per year if the closing level of each stock is equal to or greater than its starting value on any of the annual observation dates.

If the notes are not called, investors lose 1% for each 1% decline of the worst performing stock.

BofA Merrill Lynch is the agent.

The notes will price and settle in August.

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