HSBC plans to price growth opportunity averaging CDs linked to Dow

By Angela McDaniels

Tacoma, Wash., April 17 – HSBC Bank USA, NA plans to price growth opportunity averaging certificates of deposit due April 29, 2024 linked to the Dow Jones industrial average, according to a term sheet.

The payout at maturity will be par plus the index return, subject to a minimum return that is expected to be 3% to 6% and will be set at pricing.

The final index level will be the average of the index’s closing levels on 28 quarterly observation dates during the life of the CDs.

HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.

The CDs will price April 24.

The Cusip number is 40434YHE0.

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