New Issue: HSBC prices $11.06 million coupon-bearing notes linked to Goodyear

By Jennifer Chiou

New York, July 19 - HSBC USA Inc. priced $11,058,820 of coupon-bearing notes due July 26, 2013 linked to the common stock of Goodyear Tire & Rubber Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly at the rate of 11% per year.

If Goodyear shares finish at or above the threshold value of $8.84, 87.64% of the initial price, the payout at maturity will be par of $10. Investors will share in losses beyond the threshold value.

Bank of America Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Coupon-bearing notes
Underlying stock:	Goodyear Tire & Rubber Co. (NYSE: GT)
Amount:	$11,058,820
Maturity:	July 26, 2013
Coupon:	11%, payable quarterly
Price:	Par of $10
Payout at maturity:	If stock finishes at or above 87.64% of initial value, par; otherwise, exposure to losses beyond threshold value
Initial price:	$10.09
Threshold value:	$8.84, 87.64% of initial value
Pricing date:	July 17
Settlement date:	July 20
Agent:	Bank of America Merrill Lynch
Fees:	1.75%
Cusip:	40433M492

© 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.