HSBC plans income plus CDs on five stocks with 1.05% minimum coupon

By Sarah Lizee

Olympia, Wash., Jan. 23 – HSBC Bank USA, NA plans to price income plus CDs with minimum coupon due Jan. 31, 2022 linked to five common stocks, according to an FWP with the Securities and Exchange Commission.

The underlying stocks are Amazon.com, Inc., Bank of America Corp., Eli Lilly & Co., Procter & Gamble Co. and Verizon Communications Inc.

If every underlying stock closes above its initial level on a coupon valuation date, the coupon will be the minimum rate of 1.05% plus a performance-based coupon of at least 3.95%. The exact rate will be set at pricing.

Otherwise, the CDs will pay the minimum coupon of 1.05%. Interest will be payable annually.

The payout at maturity will be par.

The CDs (Cusip: 40434Y2J5) will price on Jan. 25.

HSBC Securities (USA) Inc. is the agent. Advisors Asset Management, Inc. is the distributor.

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