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HSBC changes cap for 3.5-year barrier AMPS linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., July 29 – HSBC USA Inc. changed the cap for its upcoming 0% barrier Accelerated Market Participation Securities due Feb. 28, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum return that is now expected to be at least 40% – previously, it was expected to be at least 42% – and will be set at pricing. If the index declines by 25% or less, the payout will be par. Investors will have one-to-one exposure to the decline if the index return is less than negative 25%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price Aug. 21 and settle Aug. 28.
The Cusip number is 40433B4H8.
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