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HSBC plans 5% limited loss notes due 2020 tied to HSBC Vantage5
By Susanna Moon
Chicago, July 11 – HSBC USA Inc. plans to price zero-coupon 5% limited loss notes due July 31, 2020 linked to the HSBC Vantage5 Index (USD) Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 120% of any index gain.
If the index falls, the payout will be par plus the index return, subject to a minimum payment of $950 per $1,000 principal amount.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on July 26 and settle on July 31.
The Cusip number is 40435FM87.
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