HSBC plans income plus notes tied to stocks with 9% potential coupon

By Marisa Wong

Madison, Wis., Aug. 2 - HSBC USA Inc. plans to price income plus notes due Aug. 31, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stocks of AT&T Inc., General Electric Co., Hewlett-Packard Co., Intel Corp. and Pfizer Inc.

Interest is payable annually. The interest rate will be 1% plus (a) 8% if each basket stock closes at or above its initial share price on the valuation date or (b) 0% otherwise.

The payout at maturity will be par plus the last coupon payment.

HSBC Securities (USA) Inc. is the agent.

The notes will price Aug. 26 and settle Aug. 29.

The Cusip number is 40432XJN2.

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