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HSBC plans one-year knock-out buffer notes linked to Indonesian rupiah
By Susanna Moon
Chicago, May 30 - HSBC USA Inc. plans to price 0% knock-out buffer notes due June 17, 2013 linked to the performance of the Indonesian rupiah relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the rupiah finishes below the 80% knock-out level.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the currency return and a contingent minimum return of at least 15.5%. The exact contingent minimum will be set at pricing.
Otherwise, the payout will be par plus the currency return with exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as distributor.
The notes will price on June 1 and settle on June 8.
The Cusip number is 4042K1R54.
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