HSBC plans five-year trigger performance notes on iShares MSCI EAFE

By Toni Weeks

San Luis Obispo, Calif., Aug. 4 – HSBC USA Inc. plans to price 0% trigger performance securities due Aug. 31, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 167% to 177% of any fund gain. The exact participation rate will be set at pricing.

If the fund falls by up to the 75% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.

The notes will price Aug. 26 and settle Aug. 31.

The Cusip number is 40434E572.

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