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HSBC to price buffered performance plus notes linked to S&P 500 index
By Marisa Wong
Madison, Wis., Dec. 3 - HSBC USA Inc. plans to price 0% buffered performance plus securities due June 25, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the minimum upside return and the index return. The minimum upside return is expected to be 8% to 13% and will be set at pricing. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
The notes will price Dec. 20 and settle Dec. 26.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 40432X4H1.
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