HSBC USA again pushes back pricing of equity buffer notes linked to iShares MSCI Emerging Markets

By Laura Lutz

Des Moines, July 6 - HSBC USA Inc. again delayed the pricing date for its planned issue of equity buffer notes due July 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

According to the Thursday filing, the notes will mature on July 20, 2012. They are expected to price and settle on July 13.

When the offering was first announced in an FWP filing on June 8, the notes were expected to price on June 29, settle on July 5 and mature on July 10, 2012.

In an FWP filing on June 11, the company said the notes would price on July 6, settle on July 13 and mature on July 13, 2012. At that time, the company reserved the right to postpone the pricing date to July 13 and the maturity date to July 20, 2013.

The terms of the payout have not been changed. At maturity, investors will receive par plus 110% to 120% of any index return. The exact participation rate will be set a pricing.

Investors will lose 1% for each 1% the index declines beyond 20%.

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.