HSBC plans 3.6%-3.9% five-year buffered notes linked to S&P 500

By Tali Rackner

Norfolk, Va., Aug. 24 – HSBC USA Inc. plans to price 3.6% to 3.9% buffered notes due Sept. 8, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% decline beyond 20%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 2 and settle on Sept. 8.

The Cusip number is 40433UTT3.

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