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HSBC to price buffered jump securities linked to ETF, indexes
By Angela McDaniels
Tacoma, Wash., May 1 - HSBC USA Inc. plans to price 0% buffered jump securities due Nov. 14, 2016 linked to a basket of three indexes and one exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 50% weight, the S&P 500 index with a 30% weight, the Russell 2000 index with a 10% weight and the iShares MSCI Emerging Markets ETF with a 10% weight.
If the basket finishes above its initial level, the payout at maturity will be par of $10 plus the greater of the basket return and 10%, subject to a maximum return of 25%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes will price May 7 and settle May 12.
The Cusip number is 40434C642.
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