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HSBC plans contingent return optimization notes linked to S&P 500
By Marisa Wong
Madison, Wis., July 3 – HSBC USA Inc. plans to price 0% contingent return optimization securities due July 31, 2017 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes at or above the 80% trigger level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and any index gain, up to a maximum return of 31% to 37%.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. will be the underwriter with UBS Financial Services Inc. as agent.
The notes are expected to price July 28 and settle July 31.
The Cusip number is 40434C287.
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