HSBC to price leveraged tracker notes tied to S&P 500 index

By Marisa Wong

Madison, Wis., May 13 - HSBC USA Inc. plans to price 0% leveraged tracker notes due May 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus at least 160% of the index return. The exact upside participation rate will be set at pricing.

Otherwise, investors will be fully exposed to the index decline.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price and settle in May.

The Cusip number is 40433BBG2.

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