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HSBC to price Strategic Accelerated Redemption Securities on S&P 500
By Sarah Lizee
Olympia, Wash., Jan. 9 – HSBC USA Inc. plans to price Strategic Accelerated Redemption Securities due January 2025 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at a premium of 8.5% to 9.5% per year if the closing level of the index is 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 in the index.
BofA Merrill Lynch is the agent.
The notes will price and settle in January.
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