HSBC to price buffered securities linked to Energy Select Sector SPDR

By Angela McDaniels

Tacoma, Wash., May 1 – HSBC USA Inc. plans to price 0% Buffered Market Participation Securities due Aug. 27, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus the ETF return, subject to a maximum return that is expected to be at least 11% and will be set at pricing. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

The notes are expected to price May 23.

The Cusip number is 40433U4Y9.

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