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HSBC to price global equity buffer notes linked to index basket
By Jennifer Chiou
New York, June 4 - HSBC USA Inc. plans to price global equity buffer notes due Nov. 29, 2011 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket includes equal weights of the S&P 500, Nikkei 225 and the Dow Jones Euro Stoxx 50 indexes.
If the index performance is positive, investors will receive par plus 125% of the return on the index. If the index declines by less than 20%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 20%.
The notes will price on June 26 and settle on June 29.
HSBC Securities (USA) Inc. will be the underwriter.
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