| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans three-year performance securities with contingent protection linked to S&P 500
By Laura Lutz
Des Moines, Feb. 25 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due March 31, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index stays at or above the trigger level - 75% of the initial level - during the life of the notes, the payout at maturity will be par of $10 times the index performance, subject to a minimum contingent return.
The minimum contingent return will be between 114% and 119% of par.
If the index falls below the trigger level at any time, the payout at maturity will be par times the index performance.
The notes are expected to price on March 26 and settle on March 31.
UBS Financial Services Inc. and HSBC USA Inc. will be the underwriters.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.