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HSBC plans return enhanced notes on S&P 500 with 22.8% cap, no buffer
By Susanna Moon
Chicago, Nov. 2 - HSBC USA Inc. plans to price 0% return enhanced notes due Nov. 21, 2012 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 22.8%.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the placement agent.
The notes will price on Nov. 4 and settle on Nov. 9.
The Cusip is 4042K1RS4.
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