HSBC plans to price contingent buffered notes linked to oil & gas ETF

By Angela McDaniels

Tacoma, Wash., Oct. 25 – HSBC USA Inc. plans to price 0% contingent buffered notes due Nov. 15, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the knock-out level, 65% of the initial share price, the payout at maturity will be par plus 8.75%. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank NA and J.P. Morgan Securities LLC as placement agents.

The notes will price Oct. 28.

The Cusip number is 40433UZJ8.

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