HSBC to price uncapped trigger return enhanced notes linked to Pfizer

By Angela McDaniels

Tacoma, Wash., June 4 - HSBC USA Inc. plans to price 0% uncapped trigger return enhanced notes due Dec. 9, 2015 linked to the common stock of Pfizer Inc., according to an FWP filing with the Securities and Exchange Commission.

A trigger event will occur if Pfizer's closing share price is less than 95% of the initial share price on any day during the three-month period ending Sept. 5.

If a trigger event occurs and the final share price is greater than the initial share price, the payout at maturity will be par plus 210% of the stock return.

If a trigger event does not occur and the final share price is greater than the initial share price, the payout will be par plus the stock return.

If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.

The final stock price will be the average of Pfizer's closing share prices on the five trading days ending Dec. 4, 2015.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.

The notes are expected to price June 6 and settle June 20.

The Cusip number is 40433BED6.

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