HSBC plans two-year capped Leveraged Index Return Notes on S&P 500

By Susanna Moon

Chicago, April 27 - HSBC USA Inc. plans to price capped Leveraged Index Return Notes due May 2014 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 double any gain in the index, up to a maximum return of $11.70 to $12.10 per note. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.

Bank of America Merrill Lynch will be the agent.

The notes are expected to price in May and settle in June.

© 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.