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HSBC to price buffered PLUs due 2018 linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., March 15 – HSBC USA Inc. plans to price 0% buffered Performance Leveraged Upside Securities due Oct. 3, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus at least 200% of the index return, subject to a maximum return that is expected to be at least 24% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes will price March 31.
The Cusip number is 40434N515.
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