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HSBC plans knock-out buffer notes tied to Euro Stoxx with 20% barrier
By Angela McDaniels
Tacoma, Wash., Oct. 2 - HSBC USA Inc. plans to price 0% knock-out buffer notes due April 9, 2014 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index's final level is less than the initial index level by more than 20%.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the index return and 7.15%. If a knock-out event occurs, investors will be fully exposed to the index's decline. The notes are expected to price Oct. 5 and settle Oct. 11.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
The Cusip number is 4042K16J7.
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