Published on 6/26/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.52 million income plus notes linked to five stocks with 12.5% potential coupon
By Angela McDaniels
Tacoma, Wash., June 26 - HSBC USA Inc. priced $1.52 million of income plus notes due June 29, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Altria Group, Inc., eBay Inc., PepsiCo, Inc., UnitedHealth Group Inc. and Wal-Mart Stores, Inc.
Interest is payable annually. The interest rate will be 0.5% plus (a) 12% if each basket stock closes at or above its initial share price on the valuation date or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Income plus notes
|
| Underlying stocks: | Altria Group, Inc., eBay Inc., PepsiCo, Inc., UnitedHealth Group Inc. and Wal-Mart Stores, Inc.
|
| Amount: | $1,516,000
|
| Maturity: | June 29, 2020
|
| Coupon: | 12.5% if each basket stock closes at or above its initial share price on the valuation date or 0.5% otherwise; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon
|
| Initial share prices: | $64.65 for UnitedHealth; $50.81 for eBay; $34.63 for Altria; $80.13 for PepsiCo; $74.20for Wal-Mart
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 4.25%
|
| Cusip: | 40432XGS4
|
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