HSBC plans to price 6%-7% airbag autocallables linked to Huntsman

By Toni Weeks

San Luis Obispo, Calif., Jan. 21 – HSBC USA Inc. plans to price 6% to 7% airbag autocallable yield optimization notes due Jan. 28, 2016 linked to the common stock of Huntsman Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Huntsman shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Huntsman shares equal to $1,000 divided by the conversion price. The conversion price will be 82% of the initial share price.

HSBC Securities (USA) Inc. is the underwriter, with UBS Financial Services Inc. as agent.

The notes (Cusip: 40434F546) are expected to price Jan. 23 and settle Jan. 28.

© 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.