HSBC plans 5% buffered fixed-rate notes on Russell 2000, EAFE fund

By Jennifer Chiou

New York, Sept. 3 – HSBC USA Inc. plans to price 5% buffered fixed-rate notes due Dec. 9, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

Interest is payable quarterly.

If the least-performing asset finishes at or above 80% of the initial level, the payout at maturity will be par.

Otherwise, investors will share in losses at a rate of 1.17647% per 1% drop beyond the 15% buffer.

The notes (Cusip: 40433BNK0) will price on Sept. 4 and settle on Sept. 9.

HSBC Securities (USA) Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.