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HSBC plans six-year SelectInvest notes linked to Russell 2000 index
By Jennifer Chiou
New York, June 26 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due July 27, 2020 linked to the Russell 2000 index, according to an FWP 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 75%.
If the index declines by 30% or less, the payout will be par. If the index declines by more than 30%, investors will lose 1% for every 1% that the index return is below negative 30%.
The notes (Cusip: 40433BEZ7) are expected to price on July 18 and settle on July 25.
HSBC Securities (USA) Inc. is the agent.
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