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HSBC changes cap again for barrier AMPS linked to Euro Stoxx 50 index
By Angela McDaniels
Tacoma, Wash., Aug. 7 – HSBC USA Inc. again changed the cap for its upcoming 0% barrier Accelerated Market Participation Securities due Feb. 28, 2019 linked to the Euro Stoxx 50 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 49% and will be set at pricing.
When the deal was announced July 24, the cap was expected to be at least 50%. On July 29, the issuer changed the expected cap to at least 47%.
As before, if the index declines by 30% or less, the payout will be par. Investors will have one-to-one exposure to the index’s decline from its initial level if the index return is less than negative 30%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price Aug. 21 and settle Aug. 28.
The Cusip number is 40433B4K1.
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