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HSBC plans to price knock-out buffer notes linked to 15 common stocks
By Angela McDaniels
Tacoma, Wash., Sept. 29 - HSBC USA Inc. plans to price 0% knock-out buffer notes due April 13, 2012 linked to a basket of stocks, according to an FWP filing with the Securities and Exchange Commission.
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.
A knock-out event will occur if the basket closes below its initial level by more than 16% on the final trading day of any month during the life of the notes.
If a knock-out event has occurred, the payout at maturity will be par plus the basket return, which could be positive or negative.
If a knock-out event has not occurred, the payout will be par plus the basket return, subject to a floor of par.
The notes (Cusip: 4042K05Z4) will price Sept. 30 and settle Oct. 5.
J.P. Morgan Securities LLC is the agent.
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