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HSBC plans trigger performance securities due 2023 linked to S&P 500
By Marisa Wong
Madison, Wis., Feb. 4 - HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 28, 2023 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 plus 180% to 200% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses if the index falls below the 50% trigger level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Feb. 25 and settle on Feb. 28.
The Cusip number is 40433T323.
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