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HSBC plans airbag performance notes linked to S&P 500 Low Volatility
By Susanna Moon
Chicago, Oct. 12 - HSBC USA Inc. plans to price 0% airbag performance securities due Jan. 31, 2018 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 100% to 110% of any index gain. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 50% and will lose 2% for every 1% decline beyond 50%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
The notes are expected to price on Oct. 26 and settle on Oct. 31.
The Cusip number is 40433T786.
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