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HSBC plans Far East Opportunity CDs linked to Asian indexes
By Angela McDaniels
Tacoma, Wash., Jan. 7 - HSBC Bank USA, NA plans to price 0% Far East Opportunity Point-to-Point certificates of deposit due Jan. 29, 2015 linked to a basket of indexes, according to a term sheet.
The basket includes equal weights of the Hang Seng China Enterprises, Morgan Stanley Capital International Singapore Cash, Morgan Stanley Capital International Taiwan and Nikkei 225 indexes.
The payout at maturity will be par plus any gain on the basket. Investors will receive at least par.
The CDs will be putable on the last business day in January of each year beginning Jan. 30, 2009. Investors will receive the market value of their CDs minus any redemption fees.
The CDs have a trade date of Jan. 25 and a settlement date of Jan. 31. The initial index levels will be set on Jan. 28.
HSBC Securities (USA) Inc. will be the agent.
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