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HSBC to price buffered performance plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 2 - HSBC USA Inc. plans to price 0% buffered performance plus securities due July 28, 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index return and a minimum upside return of 25% to 30%. The exact percentage will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.
The notes will price July 24 and settle July 27.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 4042K1V83.
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