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HSBC plans buffered performance plus notes due 2016 tied to S&P 500
By Susanna Moon
Chicago, Aug. 31 - HSBC USA Inc. plans to price 0% buffered performance plus securities due Sept. 28, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the greater of the gain and a minimum upside return of 20% to 25%. The exact percentage will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 21 and settle on Sept. 26.
The Cusip number is 4042K13Z4.
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