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HSBC plans airbag return optimization notes linked to Euro Stoxx 50
By Jennifer Chiou
New York, Oct. 3 - HSBC USA Inc. plans to price 0% airbag return optimization securities due Oct. 31, 2016 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the return, subject to a maximum return of 35% to 40% that will be set at pricing.
Investors will receive par for losses up to 20% and will share in losses at a rate of 1.25% per 1% decline beyond 20%.
The notes (Cusip: 40433X134) are expected to price on Oct. 29 and settle on Oct. 31.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
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