New Issue: HSBC prices $143,000 20% reverse convertibles linked to Barclays

By Susanna Moon

Chicago, Jan. 29 - HSBC USA Inc. priced $143,000 of 20% reverse convertible notes due April 28, 2008 linked to American Depositary Shares of Barclays plc, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity, investors will receive par unless the stock falls below the barrier price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Barclays shares equal to $1,000 divided by the initial share price.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Reverse convertible notes
Underlying stock:	Barclays plc (NYSE: BCS)
Amount:	$143,000
Maturity:	April 28, 2008
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless the stock falls below the barrier price during the life of the notes and finishes below its initial price, in which case 25.4907 Barclays shares
Initial share price:	$39.23
Barrier price:	$31.384, or 80% of initial share price
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agent:	HSBC Securities (USA) Inc.
Fees:	2%

© 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.