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HSBC to price three-year SelectInvest notes linked to Russell 2000
By Marisa Wong
Madison, Wis., April 3 - HSBC USA Inc. plans to price 0% SelectInvest debt securities due May 1, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return, subject to a maximum return of at least 22%. If the index declines by 15% or less, the payout will be par. If the index declines by more than 15%, investors will lose 1% for every 1% that the index return is below negative 15%.
The exact maximum return will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will price April 24 and settle April 29.
The Cusip number is 40432XWX5.
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