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HSBC plans equity buffer notes linked to S&P 500
By Jennifer Chiou
New York, July 17 - HSBC USA Inc. plans to price 0% equity buffer notes due Jan. 25, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least the initial level, the payout at maturity will be par plus 200% of any increase in the index level, capped at a maximum return of 20% to 21%.
If the index level declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the index declines past 10%.
The notes are expected to price on July 21 and settle on July 24.
HSBC Securities (USA) Inc. will be the agent.
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