HSBC plans contingent income barrier notes on iShares Nasdaq Biotech

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – HSBC USA, Inc. plans to price three-year contingent income barrier notes linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of at least 5.5% for each quarter that the fund closes at or above the coupon trigger, 60% of its initial price, on the coupon determination date.

The payout at maturity will be par if the index closes at or above the 60% trigger level on the final observation date. Otherwise, the payout will be a number of shares of the fund equal to $1,000 divided by the initial price.

HSBC Securities (USA) Inc. is the agent.

The notes will price and settle in December.

The Cusip number is 40433UEU65.

© 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.