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HSBC plans 23- to 26-month leveraged buffered notes on index basket
By Susanna Moon
Chicago, July 27 – HSBC USA Inc. plans to price 23- to 26-month 0% leveraged buffered notes linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 37% initial weight, the FTSE 100 index with a 23% initial weight, the Topix index with a 23% initial weight, the Swiss Market index with a 9% initial weight and the S&P/ASX 200 index with an 8% initial weight.
The payout at maturity will be par plus 1.6 times any basket gain, up to a maximum settlement amount of $1,291.20 to $1,342.40 for each $1,000 principal amount of notes. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 5.
The Cusip number is 40433USZ0.
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