Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to issue 12.2% reverse convertibles linked to Corning
By Laura Lutz
Des Moines, April 5 - HSBC USA Inc. plans to price an issue of 12.2% reverse convertible notes due July 30, 2007 linked to the common stock of Corning Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable at maturity.
At maturity, investors will receive par unless Corning stock falls below the protection price - 90% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Corning shares equal to $1,000 divided by the initial share price.
The notes will price on April 25 and settle on April 30.
HSBC Securities (USA) Inc. will be the agent.
© 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.