HSBC to price callable contingent income barrier notes on S&P, Russell, Gold Miners ETF

By Emma Trincal

New York, Sept. 9 – HSBC USA Inc. plans to price callable contingent income barrier notes due Dec. 15, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at an annualized rate of at least 12% if each asset closes at or above its coupon trigger level, 65% of its initial level, on the observation date for that period. The exact contingent coupon rate will be determined at pricing.

The notes will be callable at par on any quarterly coupon payment date on or after March 15, 2022.

The payout at maturity will be par plus the final coupon unless any asset finishes below its 65% barrier level, in which case investors will be fully exposed to the decline of the lowest performing asset.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 10 and settle on Sept. 15.

The Cusip number is 40439JMG7.

© 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.