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HSBC plans buffered market participation securities on S&P 500
By Jennifer Chiou
New York, Aug. 20 - HSBC USA Inc. plans to price 0% buffered market participation securities due Sept. 27, 2016 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 30% to 35%.
Investors will receive par if the index falls by up to the 15% buffer level and will lose 1% for every 1% decline beyond the buffer level.
The notes (Cusip: 40432XKM2) are expected to price on Sept. 24 and settle on Sept. 27.
HSBC Securities (USA) Inc. is the agent.
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