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HSBC to sell knock-out buffer notes linked to S&P 500 via JPMorgan
By Jennifer Chiou
New York, May 26 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Dec. 3, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The payout at maturity will be par plus the greater of the index return and 5% unless the index falls by more than 30% - the knock-out buffer - during the life of the notes, in which case investors will receive par plus the index return.
The notes will price on May 29 and settle on June 3.
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