HSBC Bank plans to price capped CDs linked to S&P 500 index

By Toni Weeks

San Luis Obispo, Calif., June 9 – HSBC Bank USA, NA plans to price capped certificates of deposit due Jan. 5, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the interest payment amount, which is equal to the index return, capped at a maximum return that is expected to be 49% and will be set at pricing.

If the index declines, investors will receive par.

The CDs (Cusip: 40434AVZ9) will price June 30 and settle July 6.

HSBC Bank USA is the agent. Morgan Stanley Wealth Management is the dealer.

© 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.