HSBC plans buffered uncapped notes linked to Russell, S&P 500, Stoxx

By Tali Rackner

Norfolk, Va., July 22 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Sept. 3, 2019 linked to an equally weighted basket made up of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any basket gain. The exact upside participation rate will be set at pricing and will be at least 100% of any basket gain.

Investors will receive par if the basket falls by 15% or less and will lose 1% for every 1% decline beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price Aug. 26 and settle Aug. 31.

The estimated initial value is between $920 and $970 per $1,000 principal amount.

The Cusip number is 40433B5P9.

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