HSBC plans to price Mitts linked to Dow Jones industrial average

By Angela McDaniels

Tacoma, Wash., Oct. 1 - HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due October 2020 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

BofA Merrill Lynch is the underwriter.

The payout at maturity will be par of $10 plus the index return, subject to a minimum payout of par and a maximum payout of 155% to 165% of par. The exact cap will be set at pricing.

The final index level will be the average of the index's closing levels on the five trading days before the maturity date.

The notes are expected to price and settle in October.

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