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HSBC intends to price buffered uncapped notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., Aug. 24 – HSBC USA Inc. plans to sell 0% buffered uncapped market participation securities due Aug. 31, 2023 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 plus any index gain.
Investors will receive par if the index falls by up to the buffer and will lose 1% for every 1% decline beyond the buffer. The buffer is expected to be at least 22% and will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435FS81) will price Aug. 28 and settle Aug. 31.
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