HSBC plans leveraged contingent buffered enhanced notes tied to Baidu

By Toni Weeks

San Luis Obispo, Calif., May 20 – HSBC USA Inc. plans to price 0% leveraged contingent buffered enhanced notes due June 13, 2016 linked to the American Depositary Shares of Baidu, Inc., according to an FWP filing with the Securities and Exchange Commission.

If the stock finishes at or above the 90% knock-out level, the payout at maturity will be par plus 200% of any stock gain, subject to a contingent minimum return of 0% and a maximum return of 24.4%.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.

The notes will price May 21 and settle May 27.

The Cusip number is 40433BW87.

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