Published on 7/5/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $865,000 seven-year income plus notes tied to five stocks
By Marisa Wong
Morgantown, W.Va., July 5 – HSBC USA Inc. priced $865,000 of income plus notes due June 30, 2023 linked to five common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Cisco Systems, Inc., International Business Machines Corp., Merck & Co., Inc., Procter & Gamble Co. and Verizon Communications, Inc.
Interest will be 1%, plus 5% if each basket stock closes at or above its initial share price on the valuation date for that year or 0% otherwise. Interest is 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.
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Issue: | Income plus notes
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Underlying stocks: | Cisco Systems, Inc., International Business Machines Corp., Merck & Co., Inc., Procter & Gamble Co. and Verizon Communications, Inc.
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Amount: | $865,000
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Maturity: | June 30, 2023
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Coupon: | 6% if each basket stock closes at or above initial share price on valuation date or 1% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus last coupon
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Initial share prices: | $27.31 for Cisco, $143.50 for IBM, $55.31 for Merck, $81.23 for P&G and $54.74 for Verizon
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UNG7
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