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HSBC to price trigger performance securities due 2015 on S&P 500
By Jennifer Chiou
New York, March 2 - HSBC USA Inc. plans to price 0% trigger performance securities due March 31, 2015 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 101% to 109% of the index gain. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 40% and will be fully exposed to losses from the initial level if it falls more than 40%.
The notes (Cusip: 40433K330) will price on March 27 and settle on March 30.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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