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HSBC plans Income Plus CDs linked to stocks with 7% potential coupon
By Angela McDaniels
Tacoma, Wash., Dec. 16 – HSBC Bank USA, NA plans to price Income Plus certificates of deposit due Dec. 28, 2021 linked to a basket of common stocks, according to a term sheet.
The basket includes the common stocks of Boeing Co., Cisco Systems, Inc., McDonald’s Corp., Pfizer Inc. and Wal-Mart Stores, Inc.
Interest will be payable annually. The interest rate will be 0.25% plus (a) the performance-based annual coupon, 6.75%, 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. Incapital LLC is distributor.
The CDs will price Dec. 22.
The Cusip number is 40434YDX2.
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