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HSBC plans 10-year trigger performance securities on Euro Stoxx 50
By Jennifer Chiou
New York, June 7 - HSBC USA Inc. plans to price 0% trigger performance securities due June 30, 2022 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 3.55 to 3.75 times the index return. The exact participation rate will be set at pricing.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 50% of the initial level, the payout will be par.
If the final index level is less than the trigger level, the payout will be par plus the index return, with full exposure to losses.
The notes (Cusip: 40433M583) are expected to price on June 26 and settle on June 29.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. will be the underwriters.
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