Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to price knock-out buffer notes linked to S&P 500 via JPMorgan
By Angela McDaniels
Tacoma, Wash., Feb. 24 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Aug. 30, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes below 80% of its initial level on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and 10.4%.
In each case, the payout will be subject to a maximum return of 30%.
The notes are expected to price Feb. 26 and settle March 3.
J.P. Morgan Securities Inc. is 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.