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HSBC plans Leveraged Index Return Notes due November 2021 on S&P 500
By Devika Patel
Knoxville, Tenn., Nov. 8 – HSBC USA Inc. plans to price 0% Leveraged Index Return Notes due November 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 105% to 125% of the index return, with the exact upside participation rate to be set at pricing.
Investors will receive par if the index falls by up to 20% and lose 1% for each 1% decline beyond the 20% buffer.
BofA Merrill Lynch is the agent.
The notes will price and settle in November.
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