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HSBC to price performance allocator notes linked to indexes, EM ETF
By Angela McDaniels
Tacoma, Wash., Feb. 12 – HSBC USA Inc. plans to price 0% performance allocator notes due Aug. 21, 2024 linked to the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The allocated return will be 60% of the return of the basket component with the highest return, 30% of the return of the basket component with the second-highest return and 10% of the return of the basket component with the lowest return.
If the allocated return is positive, the payout at maturity will be par plus at least 105% of the allocated return, subject to a maximum return of 60%. The exact upside participation rate will be set at pricing.
If the allocated return is less than or equal to zero but greater than or equal to negative 20%, the payout will be par.
If the allocated return is less than negative 20%, investors will lose 1% for every 1% that the allocated return is less than negative 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price Feb. 15.
The Cusip number is 40435UGD0.
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