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HSBC plans trigger market participation securities linked to S&P 500
By Jennifer Chiou
New York, Nov. 4 - HSBC USA Inc. plans to price 0% trigger market participation securities due Nov. 24, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus between 126% and 130% of the index return. Investors will receive par if the index falls by 40% or less and will share fully in all losses if it declines beyond 40%.
The notes (Cusip: 4042K1SL8) are expected to price on Nov. 18 and settle Nov. 23.
HSBC Securities (USA) Inc. is the agent.
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