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HSBC plans 3% buffered notes with bonus coupon linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 26 – HSBC USA Inc. plans to price buffered notes with fixed semiannual coupons and bonus coupon due Feb. 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed semiannual coupon at a rate of 3% per year.
The notes will also pay a bonus coupon of 25% of par at maturity if the index return is at least 15% to 17%. The exact bonus coupon threshold will be set at pricing.
If the index return is at least negative 15%, the payout at maturity will be par. If the index return is less than negative 15%, investors will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Jan. 27.
The Cusip number is 40433UM29.
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