New Issue: HSBC prices $1.3 million 10.21% reverse convertibles linked to Western Union

New York, March 28 - HSBC USA Inc. priced $1.3 million of 10.21% reverse convertible notes due March 31, 2009 linked to Western Union Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Western Union stock falls below the protection price of $14.623, 70% of the initial price of $20.89, during the life of the notes and finishes below the initial price in which case the payout will be Western Union shares equal to $1,000 principal amount divided by the initial price.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Reverse convertible notes
Underlying stock:	Western Union Co. (Symbol: WU)
Amount:	$1.3 million
Maturity:	March 31, 2009
Coupon:	10.21%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Western Union stock falls below the protection price of $14.623, 70% of the initial price, and finishes below the initial price, in which case Western Union shares equal to $1,000 principal amount divided by the initial price
Initial price:	$20.89
Protection price:	$14.623, 70% of $20.89
Pricing date:	March 27
Settlement date:	March 31
Agent:	HSBC Securities (USA) Inc.
Fees:	4%

© 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.