HSBC plans 15.75% reverse convertibles linked to iShares MSCI Emerging Markets

By Laura Lutz

Des Moines, Dec. 4 - HSBC USA Inc. plans to price 15.75% reverse convertible notes due March 12, 2008 linked to the iShares MSCI Emerging Markets index fund - ETF, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the shares fall below the protection price - 70% of the initial share price - during the life of the notes and finish below the initial price, the payout will be a number of shares of the fund equal to par divided by the initial price.

Otherwise, the payout will be par.

The notes were expected to price on Dec. 7 and settle on Dec. 12.

HSBC Securities (USA) Inc. will be the agent.

© 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.