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 three currencies
By Angela McDaniels
Tacoma, Wash., Nov. 17 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Dec. 5, 2012 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket includes the Brazilian real, the Mexican peso and the Chilean peso. The basket's level will increase if it appreciates relative to the dollar.
If the closing level of the basket on Nov. 28, 2012 is less than 75% of the initial basket level, investors will be fully exposed to the percentage decline of the basket. Otherwise, the payout at maturity will be par plus the greater of the basket return and the contingent minimum return, which is expected to be at least 9.05% and will be set at pricing.
The notes (Cusip: 4042K1SZ7) will price Nov. 18 and settle Nov. 28.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
© 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.