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HSBC to price trigger performance notes linked to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., April 7 – HSBC USA Inc. plans to price 0% trigger performance securities due April 30, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 154% to 164% of the ETF return. The exact participation rate will be set at pricing.
If the ETF return is zero or negative and the ETF’s final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger price, investors will be fully exposed to the decline in the ETF from its initial share price.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.
The notes are expected to price April 27 and settle April 30.
The Cusip number is 40434G627.
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