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HSBC to price three-year SelectInvest notes linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., April 1 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due April 30, 2018 linked to a basket of one exchange-traded fund and three indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 40% weight, the Euro Stoxx 50 index with a 30% weight, the Russell 2000 index with a 20% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 10% weight.
If the basket return is greater than zero, the payout at maturity will be par plus the basket return, subject to a maximum return of at least 32%. If the basket declines by 15% or less, the payout will be par. If the basket declines by more than 15%, investors will lose 1% for every 1% that the basket return is below negative 15%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price April 24 and settle April 29.
The Cusip number is 40433BN95.
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