HSBC plans five-year buffered uncapped market notes on Russell 2000

By Marisa Wong

Morgantown, W.Va., Oct. 31 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Nov. 30, 2021 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond the 20% buffer. The exact buffer will be set at pricing but will not be less than 20%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Nov. 21 and settle on Nov. 25.

The Cusip number is 40433UYU4.

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