HSBC plans trigger performance securities linked to Russell 2000

By Jennifer Chiou

New York, March 5 - HSBC USA Inc. plans to price 0% trigger performance securities due March 28, 2024 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 118% to 138% 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 40% and will be fully exposed to losses if the index finishes below the 60% trigger level.

The notes (Cusip: 40434C303) are expected to price on March 26 and settle on March 31.

HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.

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