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HSBC plans to price trigger performance notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Sept. 3 – HSBC USA Inc. plans to price 0% trigger performance securities due Sept. 10, 2020 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 of $10 plus 167% to 174% of the index return. The exact participation rate will be set at pricing. Investors will receive par if the index falls by up to 15% and will be fully exposed to losses from the initial level if it falls by more than 15%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes will price Sept. 4 and settle Sept. 10.
The Cusip number is 40434E366.
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