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HSBC plans return enhanced notes tied to basket of stocks via JPMorgan
By Marisa Wong
Milwaukee, March 10 - HSBC USA Inc. plans to price 0% return enhanced notes due March 31, 2011 linked to a basket of eight common stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket includes equal weights of Chesapeake Energy Corp., El Paso Corp., Southwestern Energy Co., Petrohawk Energy Corp., Pioneer Natural Resources Co., Range Resources Corp., SandRidge Energy, Inc., and Mariner Energy, Inc. stock.
The payout at maturity will be par of $1,000 plus triple any basket gain, subject to a maximum return of 31.2%. Investors will be fully exposed to any basket decline.
The notes are expected to price March 12 and settle March 17.
J.P. Morgan Securities Inc. is the agent.
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