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HSBC to price trigger performance securities linked to S&P 500 index
By Jennifer Chiou
New York, Aug. 16 - HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 25, 2015 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 105% to 110% of the index return. The exact participation rate will be set at pricing.
If the index declines by 40% or less, the payout will be par.
Investors will be fully exposed to the decline if the index falls by more than 40%.
The notes (Cusip: 40433C569) are expected to price on Aug. 19 and settle on Aug. 24.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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