HSBC plans to price 18-month buffered AMPS linked to indexes, ETF

By Marisa Wong

Madison, Wis., Oct. 5 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due April 29, 2013 linked to an equity basket, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket is comprised of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund.

The payout at maturity will be par plus 150% of any increase in the basket, subject to a cap of 21% to 25%. The exact cap will be set at pricing.

Investors will receive par if the basket declines by up to 10% and will lose 1% for every 1% that it declines beyond 10%.

The notes (Cusip: 4042K1QB2) are expected to price Oct. 24 and settle Oct. 27.

HSBC Securities (USA) Inc. will be the agent.

© 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.