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HSBC plans to price buffered PLUS linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, April 4 – HSBC USA Inc. plans to price buffered Performance Leveraged Upside Securities due Nov. 5, 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 200% of the index return, subject to a maximum return that is expected to be at least 22.25% 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 the index declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
The notes will price April 15 and settle April 20.
The Cusip number is 40434N457.
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