HSBC plans income plus notes on five stocks with 5% potential coupon

By Marisa Wong

Morgantown, W.Va., June 26 – HSBC USA Inc. plans to price income plus notes due June 30, 2024 linked to five common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Bristol-Myers Squibb Co., General Motors Co., HP Inc., Altria Group, Inc. and AT&T Inc.

Interest is payable annually. The interest rate will be 1.75% plus (a) 3.25% 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 final coupon.

HSBC Securities (USA) Inc. is the agent.

The notes will price on June 27.

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