HSBC to price lookback return enhanced notes linked to Hang Seng China

By Angela McDaniels

Tacoma, Wash., Jan. 29 – HSBC USA Inc. plans to price 0% lookback return enhanced notes due Feb. 19, 2020 linked to the Hang Seng China Enterprises index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 16.5%. Investors will have one-to-one exposure to any decline in the index.

The initial index level will be the index’s lowest closing level during the observation period of Feb. 1 to and including April 1. The final index level will be the average of the index’s closing levels on the five trading days ending Feb. 14, 2020.

HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

The notes will price Feb. 1.

The Cusip number is 40435UGA6.

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