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HSBC plans 10-year trigger performance securities tied to S&P 500
By Susanna Moon
Chicago, July 1 - HSBC USA Inc. plans to price 0% trigger performance securities due July 30, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 180% to 200% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses should the index fall by more than 50%.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
The notes will price on July 26 and settle on July 29.
The Cusip is 40433C684.
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