| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans knock-out buffer notes tied to Norwegian krone via JPMorgan
By Marisa Wong
Madison, Wis., Jan. 17 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Feb. 4, 2013 linked to the Norwegian krone relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the currency falls by more than 20% relative to the initial spot rate on Jan. 28, 2013, the final valuation date.
If a knock-out event occurs, the payout at maturity will be par plus the currency return, with exposure to any losses.
Otherwise, the payout will be par plus any currency gain, with a contingent minimum return of at least 4.2%. The exact floor will be set at pricing. The payout is subject to a maximum return of 10%.
The notes (Cusip: 4042K1VS9) are expected to price on Jan. 20 and settle on Jan. 27.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC handling distribution.
© 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.