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HSBC plans capped trigger gears linked to iShares MSCI EM ETF
By Marisa Wong
Morgantown, W.Va., Sept. 23 – HSBC USA Inc. plans to price 0% capped trigger gears due Sept. 30, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than zero, the payout at maturity will be par of $10 plus 2 times the fund return, subject to a maximum return that is expected to be 40% to 45% and will be set at pricing. Investors will receive par if the fund declines by 25% or less and be fully exposed to the fund’s decline from its initial level if it declines by more than 25%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes are expected to price Sept. 27.
The Cusip number is 40435B817.
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