HSBC plans dual directional contingent buffered enhanced notes on Pfizer

By Jennifer Chiou

New York, July 31 – HSBC USA Inc. plans to price 0% dual directional contingent buffered enhanced notes due Aug. 20, 2015 linked to the common stock of Pfizer Inc., according to an FWP with the Securities and Exchange Commission.

If the share return is greater than 5%, the payout at maturity will be par plus the return, capped at 12%.

If the share return is flat or positive but less than or equal to 5%, the payout at maturity will be par plus the contingent minimum return of 5%.

If the final share price is less than the initial share price by up to 10%, the payout will be par plus the absolute value of the stock return.

If the final share price is less than the initial share price by more than 10%, investors will lose 1% for every 1% that the final share price is less than the initial share price.

The notes (Cusip: 40433BKV9) are expected to price on Aug. 1 and settle on Aug. 6.

J.P. Morgan Securities LLC is the placement agent.

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