| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to price Strategic Accelerated Redemption Securities on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – HSBC USA Inc. plans to price Strategic Accelerated Redemption Securities due November 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at a premium of an annualized rate of 6% to 10% if the closing level of the index is greater than its starting value on any of the three quarterly observation dates. The observation dates start six months after issuance.
If the notes are not called, investors lose 1% for each 1% decline in the index beyond a 5% buffer.
BofA Merrill Lynch is the agent.
The notes will price and settle in October.
© 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.