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HSBC to price trigger performance securities linked to Euro Stoxx 50
By Jennifer Chiou
New York, Sept. 23 - HSBC USA Inc. plans to price 0% trigger performance securities due Oct. 2, 2018 linked to the Euro Stoxx 50 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 115% to 125% of the index return. The exact participation rate will be determined at pricing.
If the index return is zero or negative and the final index level is equal to or greater than the trigger level, 50% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
The notes (Cusip: 40433X175) will price on Sept. 27 and settle on Oct. 2.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
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