HSBC to redeem Elements ETNs linked to S&P Commodity Trends Indicator

By Wendy Van Sickle

Columbus, Ohio, Sept. 7 – HSBC USA Inc. will redeem of all of the Elements exchange-traded notes linked to the S&P Commodity Trends Indicator – Total Return due June 16, 2023, according to a news release.

The ETNs will be redeemed Sept. 19 under the terms of the ETNs and the indenture between HSBC and Deutsche Bank Trust Co. Americas dated March 31, 2006.

The ETNs are listed on the NYSE Arca (symbol: LSC). There is less than $5 million principal amount outstanding of the ETNs.

The redemption price will be the ETNs’ daily repurchase value on Sept. 14.

The last trading day for the ETNs is expected to be Sept. 16. Daily creations of the ETNs will be suspended immediately. Daily repurchases at the option of holders will be accepted up to and including Sept. 13.

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