HSBC intends to price PLUS due 2021 linked to the Russell 2000 index

By Devika Patel

Knoxville, Tenn., May 22 – HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due Sept. 3, 2021 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain in the index, up to a maximum payment of at least $11.80 per PLUS. The exact cap will be set at pricing.

Investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 40438J676) will price May 29 and settle June 3.

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