Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Apple Inc. > News item |
HSBC to price autocallable target income CDs linked to five stocks
By Angela McDaniels
Tacoma, Wash., June 12 – HSBC Bank USA, NA plans to price autocallable target income certificates of deposit due June 28, 2024 linked to the common stocks of Apple Inc., Boeing Co., Eli Lilly and Co., Ford Motor Co. and Verizon Communications Inc., according to a term sheet.
An automatic call event will occur if each stock closes at or above its initial share price on an annual observation date.
If an automatic call event does not occur on an annual observation date, the CDs will pay a 0.5% coupon that year. If an automatic call event occurs, investors will not receive a coupon. Instead, they will receive par plus a call premium of 5% per year.
If the CDs are not called, the payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.
The CDs will price June 26.
The Cusip number is 40434YKN6.
© 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.