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HSBC plans four-year SelectInvest notes with buffer linked to S&P 500
By Susanna Moon
Chicago, April 25 - HSBC USA Inc. plans to price 0% SelectInvest notes due June 4, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index gain, up to a maximum return of at least 30%. The exact cap will be set at pricing.
The payout will be par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 23 and settle on June 2.
The Cusip number is 40432XYZ8.
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