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HSBC plans one-year SelectInvest notes linked to iShares MSCI EM
By Jennifer Chiou
New York, Oct. 30 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due Nov. 24, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus the ETF return, subject to a maximum return of at least 9%. The exact maximum return will be set at pricing.
If the ETF declines by 10% or less, the payout will be par. If the ETF declines by more than 10%, investors will lose 1% for every 1% that the ETF return is below negative 10%.
The notes (Cusip: 40433BSC3) will price on Nov. 19 and settle on Nov. 24.
HSBC Securities (USA) Inc. is the agent.
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