HSBC plans growth opportunity averaging CDs linked to three indexes

By Angela McDaniels

Tacoma, Wash., Dec. 11 – HSBC Bank USA, NA plans to price 0% growth opportunity averaging certificates of deposit due Dec. 27, 2024 linked to a basket of indexes, according to a term sheet.

The basket includes equal weights of the Euro Stoxx 50 index, the Nikkei 225 index and the S&P 500 index.

The payout at maturity will be par plus the basket return, subject to a minimum return that is expected to be 6% to 9% and will be set at pricing.

When calculating the basket return, the final level of each index will be the average of that 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 trade date is Dec. 20, and the pricing date is Dec. 21.

The Cusip number is 40434YSQ1.

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