HSBC plans 10-year airbag performance notes linked to Euro Stoxx 50

By Susanna Moon

Chicago, April 20 – HSBC USA Inc. plans to price 0% airbag performance securities due April 30, 2025 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 138% to 158% of any index gain. The exact upside participation rate will be set at pricing.

If the index falls by up to 40%, the payout will be par.

Otherwise, investors will lose 1.6667% for every 1% decline beyond 40%.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

The notes will price on April 28 and settle on April 30.

The Cusip number is 40434G486.

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