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HSBC plans to sell knock-out buffer notes tied to iShares MSCI Emerging Markets fund via JPMorgan
By E. Janene Geiss
Philadelphia, Oct. 21 - HSBC USA Inc. plans to price 0% knock-out buffer notes due April 28, 2011 linked to the iShares MSCI Emerging Markets Index Fund, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
A knock-out event will occur if the price of gold falls by more than the buffer amount of 15% during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus the return on the price of the fund. Investors are exposed to any losses.
If a knock-out event does not occur, the payout will be par plus the greater of the return or the contingent minimum return of 4.8%.
The notes will price on Oct. 23 and settle on Oct. 28.
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