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HSBC USA plans 0% buffer notes linked to three indexes
By Angela McDaniels
Seattle, Oct. 30 - HSBC USA Inc. plans to price an issue of 0% global equity buffer notes linked to a basket containing equal weights of the S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, according to an FWP filing with the Securities and Exchange Commission.
The tenor of the notes will be between four and four-and-a-half years. The exact tenor will be determined at pricing on Nov. 22.
The payout at maturity will be par plus 120% of any positive return on the basket. If the basket declines by 20% or less, the payout will be par. If the basket falls by more than 20%, investors will lose 1% for each 1% the basket declines beyond 20%.
HSBC Securities (USA) Inc. will be the agent for the offering.
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