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HSBC plans 10-year trigger performance notes linked to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., Feb. 1 - HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 28, 2023 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 320% to 340% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls more than 50%.
The notes (Cusip: 40433T299) are expected to price Feb. 26 and settle Feb. 28.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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