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HSBC plans 14-month Accelerated Return Notes linked to S&P 500 index
By Tali Rackner
Norfolk, Va., July 31 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due October 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus three times any index gain, capped at 10% to 14%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
Merrill Lynch & Co. is the agent.
The notes will price in August and settle in September.
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