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HSBC to sell knock-out buffer notes linked to indexes via JPMorgan
By Susanna Moon
Chicago, May 18 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Nov. 26, 2010 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The basket consists of the Hang Seng China Enterprises index with a weight of 33%, the Korea Stock Price Index 200 with a weight of 23%, the MSCI Taiwan index with a weight of 20%, the Hang Seng index with a weight of 16% and the MSCI Singapore index with a weight of 8%.
The payout at maturity will be par plus the greater of the basket return and 1.5% unless the basket falls by more than 30% - the knock-out buffer - during the life of the notes, in which case investors will receive par plus the basket return.
The notes will price on May 22 and settle on May 28.
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