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HSBC plans 10-year trigger performance securities linked to S&P 500
By Jennifer Chiou
New York, Dec. 4 - HSBC USA Inc. plans to price 0% trigger performance securities due Dec. 29, 2023 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 145% to 165% 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 if the index finishes below the 50% trigger level.
The notes (Cusip: 40434B685) are expected to price on Dec. 26 and settle on Dec. 31.
UBS Financial Services Inc. is the agent with HSBC Securities (USA) Inc. as distributor.
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