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HSBC plans five-year knock-out notes with 60% trigger on Euro Stoxx 50
By Susanna Moon
Chicago, Oct. 16 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Oct. 23, 2018 linked to Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below its 60% trigger level.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of 157% of any index gain and a contingent minimum return of 0%.
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 placement agent.
The notes will price on Oct. 18 and settle on Oct. 23.
The Cusip number is 40432XML2.
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