HSBC plans to price CDs linked to HSBC Vantage5 (USD) Excess Return

By Angela McDaniels

Tacoma, Wash., July 10 – HSBC Bank USA, NA plans to price 0% certificates of deposit due July 28, 2024 linked to the HSBC Vantage5 Index (USD) Excess Return, according to a term sheet.

The payout at maturity will be par plus at least 220% of the index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.

The index uses modern portfolio theory principles and the related concept of efficient frontier, aiming to maximize returns for a given level of risk. It has a volatility target of 5%.

HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.

The CDs will price July 25.

The Cusip number is 40434YMB0.

© 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.