HSBC plans best-of performance notes linked to iShares MSCI EAFE

By Angela McDaniels

Tacoma, Wash., Oct. 6 - HSBC USA Inc. plans to price 0% best-of performance notes due Nov. 1, 2012 linked to the iShares MSCI EAFE index fund, according to an FWP filing with the Securities and Exchange Commission.

If the exchange-traded fund's share price falls below the barrier level - 75% of the initial price - during the life of the notes, the payout at maturity will be par plus the fund return, which could be positive or negative.

Otherwise, the payout will be par plus the greater of the fund return and the contingent minimum return, which is expected to be 10% to 15% and will be set at pricing.

The notes (Cusip 4042K06Y6) are expected to price Oct. 29 and settle Nov. 3.

HSBC Securities (USA) Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.