HSBC plans 2.5-year best-of notes with set barrier linked to S&P 500

By Susanna Moon

Chicago, Dec. 29 - HSBC USA Inc. plans to price 0% best-of performance notes due July 30, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A trigger event occurs if the index ever closes below the barrier level during the life of the notes. The barrier level is 890.81.

If a trigger event occurs, the payout at maturity will be par the index return with exposure to any losses.

Otherwise, the payout will be par plus any index gain, with a contingent minimum return of 27% to 30% that will be set at pricing.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price and settle in December.

The Cusip number is 4042K1VB6.

© 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.