HSBC plans to price seven-year Mitts linked to S&P 500 index

By Susanna Moon

Chicago, Jan. 31 - HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due February 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

BofA Merrill Lynch is the underwriter.

The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 55% to 65%. The exact cap will be set at pricing.

If the index falls, the payout will be par.

The notes are expected to price in February and settle in March.

© 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.