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HSBC plans return enhanced notes linked to S&P 500 via JPMorgan
By Jennifer Chiou
New York, May 24 - HSBC USA Inc. plans to price 0% return enhanced notes due June 13, 2012 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 18.46%. Investors will share in any losses.
The final index level will be the average of the index's closing levels on the five days ending on June 8, 2012.
The notes (Cusip: 4042K1HY2) will price on May 27 and settle on June 2.
J.P. Morgan Securities LLC is the agent.
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