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HSBC plans 14%-17% callable yield notes linked to commodity ETF basket
By Angela McDaniels
Tacoma, Wash., Jan. 4 - HSBC USA Inc. plans to price 14% to 17% callable yield notes due Jan. 27, 2011 linked to the Market Vector Gold Miners trust and the Energy Select SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either exchange-traded fund closes below its knock-in price - 70% of its initial share price - during the life of the notes, in which case the payout will be par plus the return of the worst-performing ETF, subject to a maximum payout of par.
The notes are callable at par on any interest payment date.
The notes will price Jan. 22 and settle Jan. 27.
HSBC Securities (USA) Inc. is the agent.
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