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HSBC plans contingent return optimization notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 2 – HSBC USA Inc. plans to price contingent return optimization securities due Nov. 30, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 8.5% to 9% if the index closes at or above the initial level on any annual call date beginning Sept. 26, 2016.
If the index finishes at or above its 80% trigger level, the payout at maturity will be par plus the greater of the 6% contingent return or any index gain up to a maximum return of 18% to 21%. The exact cap will be set at pricing.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 40434K578.
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