HSBC plans three-year trigger gears with 30%-33% cap tied to S&P 500

By Susanna Moon

Chicago, Oct. 6 – HSBC USA Inc. plans to price 0% trigger gears due Oct. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 30% to 33%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below its 75% trigger level.

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

The notes will price on Oct. 26 and settle on Oct. 31.

The Cusip number is 40435B569.

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