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HSBC plans averaging notes linked to S&P Global Infrastructure index
By Angela McDaniels
Tacoma, Wash., Dec. 27 - HSBC USA Inc. plans to price 0% averaging notes with minimum return due Jan. 24, 2018 linked to the S&P Global Infrastructure index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of the minimum return and the index return. The minimum return is expected to be 10% to 15% and will be set at pricing.
The final index level will be the average of its closing levels on Jan. 19, April 19, July 19 and Oct. 19 of each year during the life of the notes, beginning April 19, 2011.
The notes (Cusip 4042K1BQ5) are expected to price Jan. 19 and settle Jan. 24.
HSBC Securities (USA) Inc. is the agent.
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