HSBC plans barrier market participation notes linked to S&P 500

By Marisa Wong

Madison, Wis., June 24 – HSBC USA Inc. plans to price 0% barrier market participation notes due July 31, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 25% to 30% and will be fully exposed to any losses if the index finishes below the 70% to 75% barrier level. The exact barrier will be set at pricing.

HSBC Securities (USA) Inc. is the agent.

The notes will price on July 28 and settle on July 31.

The Cusip number is 40433B3E6.

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