HSBC plans three-year capped trigger gears tied to iShares MSCI EM

By Susanna Moon

Chicago, July 13 – HSBC USA Inc. plans to price 0% capped trigger gears due July 29, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 2 times any fund gain, up to a maximum return of 37.5% to 40.5%.

If the fund falls by up to the 75% downside threshold, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

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

The notes will price on July 26 and settle on July 31.

The Cusip number is 40435X827.

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