HSBC plans knock-out buffer notes tied to 15 stocks via JPMorgan

By Jennifer Chiou

New York, June 25 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Jan. 11, 2012 linked to a basket of 15 stocks, according to an FWP filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. is the agent.

The basket includes equal weights of Yum! Brands, Inc., Coca-Cola Co., PepsiCo, Inc., Colgate-Palmolive Co., Phillip Morris International Inc., Wynn Resorts, Ltd., Las Vegas Sands Corp., Starwood Hotels & Resorts Worldwide, Inc., Mead Johnson Nutrition Co., Broadcom Corp., Marvell Technology Group Ltd., Applied Materials, Inc., Boeing Co., Mylan Inc. and FedEx Corp.

If the final basket level has decreased from the initial level by more than 17.5%, the payout at maturity will be par plus the basket return. Otherwise, the payout will be par plus the greater of the basket return and par.

The notes will price on June 30 and settle on July 6.

© 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.