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 tweaks payout terms for buffered performance notes on the Dow
By Toni Weeks
San Diego, Sept. 1 - HSBC USA Inc. amended the terms for its planned offering of 0% buffered performance plus securities due March 30, 2015 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is equal to or greater than zero, the payout at maturity will be par plus the greater of the index return and the 25% to 28% minimum upside return. Previously, the index return needed to be positive for investors to receive a minimum payout at maturity.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 4042K1MZ3) will price on Sept. 27 and settle on Sept. 30.
HSBC Securities (USA) Inc. is the agent.
© 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.