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HSBC plans income plus notes on five stocks with 1% minimum coupon
By Susanna Moon
Chicago, Aug. 4 – HSBC USA Inc. plans to price income plus notes due Aug. 31, 2023 linked to five common stocks, according to an FWP filing with the Securities and Exchange Commission.
The underlying companies are Bristol-Myers Squibb Co., Ford Motor Co., McDonald’s Corp., Philip Morris International Inc. and Wal-Mart Stores, Inc.
The coupon will be 1%, the minimum rate, plus an additional coupon of 4.5% if each basket stock closes at or above its initial level on the valuation date for that year. Interest is payable annually.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 40433USC1.
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