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 to price knock-out buffer notes linked to S&P 500 index
By Jennifer Chiou
New York, Feb. 29 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Sept. 9, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 25% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the contingent return of par.
If a knock-out event occurs, the payout at maturity will be par plus the index return. Investors will be fully exposed to losses.
The notes (Cusip: 4042K1YL1) are expected to price on March 2 and settle on March 7.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.
© 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.