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HSBC plans 3% digital buffered notes linked to three indexes
By Marisa Wong
Morgantown, W.Va., April 25 – HSBC USA Inc. plans to price 3% digital buffered notes due May 4, 2020 linked to an equally weighted basket consisting of the S&P MidCap 400 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually.
If the basket return is greater than or equal to 12%, the payout at maturity will be par plus the digital return, which will be at least 24.5% and will be set at pricing.
If the basket return is less than 12% but greater than or equal to negative 15%, the payout will be par.
If the basket return is less than negative 15%, investors will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 27 and settle on May 2.
The Cusip number is 40433UBX3.
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