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HSBC plans buffered market participation notes due 2016 on S&P 500
By Marisa Wong
Madison, Wis., Dec. 4 - HSBC USA Inc. plans to price 0% buffered market participation securities due March 21, 2016 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 18% to 23% that will be set at pricing.
Investors will receive par if the index falls by up to the 8% buffer level and will lose 1% for every 1% decline beyond the buffer level.
The notes (Cusip: 40432XNW7) are expected to price Dec. 17 and settle Dec. 20.
HSBC Securities (USA) Inc. is the agent.
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