Published on 2/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $576,000 income plus notes linked to five stocks
By Jennifer Chiou
New York, Feb. 27 - HSBC USA Inc. priced $576,000 of income plus notes due Feb. 27, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Bristol-Myers Squibb Co., ConocoPhillips, Intel Corp., AT&T Inc. 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 1% plus a performance-based coupon of 4.5%. Otherwise, the notes will pay the minimum coupon of 1%. Interest will be payable annually.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Income plus notes
|
| Underlying stocks: | Bristol-Myers Squibb Co., ConocoPhillips, Intel Corp., AT&T Inc. and Walgreen Co.
|
| Amount: | $576,000
|
| Maturity: | Feb. 27, 2020
|
| Coupon: | 5.5% if each basket stock closes at or above its initial share price on the valuation date or 1% otherwise; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon
|
| Initial share prices: | $36.90 for Bristol-Myers, $58.20 for ConocoPhillips, $20.42 for Intel, $35.68 for AT&T and $41.81 for Walgreens
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 4.5%
|
| Cusip: | 40432XB26
|
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