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HSBC to Raise $8.5 Million With Equity-Linked Note in Australia

Feb. 3 (Bloomberg) -- HSBC Holdings Plc plans to raise as much as A$8 million ($8.5 million) with a five-year equity-linked product it is offering to individual investors in Australia.

“We would be disappointed if we didn’t raise between A$5 to A$8 million,” Ian Collins, Sydney-based head of sales for global markets at HSBC Bank Australia Ltd., a unit of HSBC, said in a telephone interview on Jan. 31.

The product, called 100+ Series International Equity Investment, is linked to the S&P/ASX 200, Swiss Market Index, MSCI Singapore Free Index, and Taiwan TAIEX Index, according to an HSBC statement detailing the offering.

To contact the reporter on this story: Benjamin Garvey in Hong Kong at bgarvey8@bloomberg.net.

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net.

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