HSBC plans Income Plus CDs linked to stocks with 9% potential coupon

By Angela McDaniels

Tacoma, Wash., Dec. 11 – HSBC Bank USA, NA plans to price Income Plus certificates of deposit due Dec. 27, 2022 linked to the common stocks of Altria Group Inc., Bristol-Myers Squibb Co., Ford Motor Co., HP Inc. and Verizon Communications Inc., according to a term sheet.

Interest will be payable annually. The interest rate will be 0.25% plus (a) the performance-based annual coupon, 8.75%, 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. Incapital LLC is distributor.

The CDs will price Dec. 21.

The Cusip number is 40434YSG3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.