New Issue: HSBC sells $1.25 million yield notes on Pfizer, Chubb

By Wendy Van Sickle

Columbus, Ohio, April 10 – HSBC USA Inc., priced $1.25 million of 8.95% yield notes due Oct. 10, 2024 linked to the least performing of the stocks of Pfizer Inc. and Chubb Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either stock finishes below its 55% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.

HSBC Securities is the agent.

Issuer:	HSBC USA Inc.
Issue:	Yield notes
Underlying stocks:	Pfizer Inc. and Chubb Corp.
Amount:	$1,251,000
Maturity:	Oct. 10, 2024
Coupon:	8.95%, payable monthly
Price:	Par
Payout at maturity:	Par unless either stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
Initial levels:	$40.90 for Pfizer and $195.46 for Occidental
Knock-in levels:	$22.495 for Pfizer and $107.503 for Occidental, or 55% of initial levels
Pricing date:	April 4
Trade date:	April 5
Settlement date:	April 11
Agent:	HSBC Securities
Fees:	0.3%
Cusip:	40441X4P2

© 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.