HSBC plans barrier enhanced participation notes tied to S&P, Russell

By Susanna Moon

Chicago, Nov. 9 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due Nov. 16, 2021 linked to the Russell 200 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus at least 1.75 times the gain of the worse performing index.

Investors will receive par if each index falls by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Nov. 10 and settle on Nov. 16.

The Cusip number is 40433UZV1.

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