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HSBC plans knock-out buffer notes linked to five Asian indexes
By Jennifer Chiou
New York, Jan. 27 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Aug. 4, 2011 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 includes the Hang Seng China Enterprises index with a 33% weight, the Korea Composite Stock Price Index 200 with a 24% weight, the MSCI Taiwan index with a 21% weight, the Hang Seng index with a 14% weight and the MSCI Singapore index with an 8% weight.
If the basket falls below 73.6% of its initial level during the life of the notes, the payout at maturity will be par plus the basket return. Otherwise, the payout will be plus the basket return, with a floor of par.
The notes will price on Jan. 29 and settle on Feb. 3.
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