HSBC plans to price five-year trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 24 – HSBC USA Inc. plans to price 0% trigger gears due April 29, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.2 to 1.3 times any index gain.

Investors will receive par if the index falls by up to 40% and will be fully exposed to any losses if the index finishes below the 60% downside threshold level.

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

The notes will price on April 25.

The Cusip number is 40435D797.

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