HSBC plans to price five-year trigger gears linked to Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., May 11 – HSBC USA Inc. plans to price 0% trigger gears due May 17, 2021 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus the upside gearing of between 1.79 times and 1.82 times the gain. The exact upside gearing will be set at pricing.

If the index falls but finishes at or above the 75% trigger level, the payout will be par.

If the index falls by more than 25%, investors will receive par plus the return.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes (Cusip: 40434V301) will price on May 13 and settle on May 18.

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