HSBC plans four-year callable Stars tied to S&P Biotechnology Select

By Susanna Moon

Chicago, Jan. 26 – HSBC USA Inc. plans to price Strategic Accelerated Redemption Securities due January 2021 linked to the S&P Biotechnology Select Industry, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be callable at par of $10 plus an annualized call premium of 13% to 14% if the index closes at or above its initial level on any of four annual review dates. The exact call premium will be set at pricing.

The payout at maturity will be par unless the index falls, in which case investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in January and settle in February.

© 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.