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HSBC plans to price knock-out buffer notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Feb. 10 – HSBC USA Inc. plans to price 0% knock-out buffer notes due Aug. 17, 2016 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial index level by more than 19.9%.
If a knock-out event has not occurred, the payout at maturity will be par plus the index return, subject to a minimum payout of par. If a knock-out event has occurred, investors will be fully exposed to the index’s decline from its initial level.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.
The notes will price Feb. 13 and settle Feb. 19.
The Cusip number is 40433BA99.
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