HSBC plans income plus CDs on five stocks with 0.75% minimum coupon

By Marisa Wong

Madison, Wis., Dec. 17 - HSBC USA Inc. plans to price income plus certificates of deposit with minimum coupon due Dec. 27, 2019 linked to a basket of common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are AT&T Inc., Bristol-Myers Squibb Co., ConocoPhillips, Intel Corp. and Walgreen Co.

If every underlying stock closes above its initial level on a coupon valuation date, the coupon will be the minimum rate of 0.75% plus a performance-based coupon of at least 1.5%. The exact rate will be set at pricing. Otherwise, the CDs will pay the minimum coupon of 0.75%. Interest will be payable annually.

The payout at maturity will be par.

The CDs (Cusip: 40431G4W6) will price on Dec. 21 and settle on Dec. 27.

HSBC Securities (USA) Inc. is the agent. Advisors Asset Management, Inc. is the distributor.

© 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.