HSBC plans seven-year Mitts tied to S&P 500, Euro Stoxx 50, Nikkei

By Jennifer Chiou

New York, March 31 – HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due May 2022 linked to the S&P 500 index with a 33.34% weight, the Euro Stoxx 50 index with a 33.34% weight and the Nikkei Stock Average index with a 33.33% weight, according to an FWP with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus the basket return, capped at 45% to 55%. The exact cap will be set at pricing.

Investors will receive at least par.

The notes are expected to price and settle in April.

BofA Merrill Lynch is the underwriter.

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