New Issue: Scotia prices $29.65 million autocallable Stars linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 5 – HSBC Bank plc priced $29.65 million of autocallable Strategic Accelerated Redemption Securities due June 29, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium if the closing level of the index is greater than or equal to its starting value on any annual observation date, including maturity. The call premium will be 9.27% per year.

If the notes are not called investors will lose 1% for every 1% decline.

BofA Securities, Inc. is the agent.

Issuer:	HSBC Bank plc
Issue:	Autocallable Strategic Accelerated Redemption Securities
Underlying index:	S&P 500 index
Amount:	$29,649,020
Maturity:	June 29, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If notes are not called, 1% loss for each 1% decline
Call:	Notes will be called at par plus a premium if the closing level of the index is greater than or equal to its starting value on any annual observation date including maturity; call premium will be 9.27% per year
Initial level:	4,396.44
Pricing date:	June 29
Settlement date:	July 7
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	06418G560

© 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.