| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Korean won > News item |
HSBC plans to price knock-out buffer notes linked to won, peso, ruble
By Marisa Wong
Madison, Wis., March 20 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Sept. 30, 2013 linked to a basket of equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
The underlying currencies are the Korean won, Mexican peso and Russian ruble.
A knock-out event occurs if the basket falls by more than 15% on the final valuation date.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the basket return and the contingent minimum return, which will be at least 13.75% and will be set at pricing.
If a knock-out event occurs, the payout at maturity will be par plus the basket return, with full exposure to losses.
The notes (Cusip: 4042K1B44) will price on March 23 and settle on March 30.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC handling distribution.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.