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HSBC plans knock-out notes linked to Euro Stoxx 50 with 30% barrier
By Susanna Moon
Chicago, Oct. 10 - HSBC USA Inc. plans to price 0% knock-out buffer notes due April 16, 2014 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 30% on any trading day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of any index gain and a contingent minimum return of 7.3%.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
The notes are expected to price on Oct. 12 and settle on Oct. 17.
The Cusip number is 4042K17A5.
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