Published on 8/8/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices annual income opportunity securities linked to 12 stocks
By Angela McDaniels
Tacoma, Wash., Aug. 8 - HSBC USA Inc. priced an undisclosed amount of annual income opportunity securities with auto cap due Aug. 12, 2016 linked to a basket of 12 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common shares of CME Group Inc., Eli Lilly and Co., Exxon Mobil Corp., Intel Corp., Lockheed Martin Corp., Lowe's Cos., Inc., Microsoft Corp., Northern Trust Corp., Qualcomm Inc., Sysco Corp., Time Warner Cable Inc. and Wal-Mart Stores, Inc.
Interest is payable annually and will equal the average of the performances of the basket stocks, subject to a floor of zero.
If the return of a stock is zero or positive, its performance will be 7%. Otherwise, its performance will be the greater of its return and negative 30%.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Annual income opportunity securities with auto cap
|
| Underlying stocks: | CME Group Inc., Eli Lilly and Co., Exxon Mobil Corp., Intel Corp., Lockheed Martin Corp., Lowe's Cos., Inc., Microsoft Corp., Northern Trust Corp., Qualcomm Inc., Sysco Corp., Time Warner Cable Inc. and Wal-Mart Stores, Inc.
|
| Maturity: | Aug. 12, 2016
|
| Coupon: | The average of the performances of the basket stocks, subject to a floor of zero; if the return of a stock is zero or positive, its performance will be 7%; otherwise, its performance will be the greater of its return and negative 30%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 12
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | Up to 3%
|
| Cusip: | 4042K1MEO
|
© 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.
