HSBC plans 14.4% reverse convertibles linked to Goldcorp

By Angela McDaniels

Seattle, Dec. 5 - HSBC USA Inc. plans to price an offering of reverse convertible notes due June 26, 2007 linked to the common stock of Goldcorp Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 7.2% for an annualized rate of 14.4%.

The notes will price on Dec. 20 and settle on Dec. 26.

The payout at maturity will be par unless Goldcorp stock falls below the barrier level - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Goldcorp shares equal to $1,000 divided by the initial share price.

HSBC Securities (USA) Inc. will be the agent.

© 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.