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HSBC plans airbag performance securities tied to S&P/TSX 60 index
By Marisa Wong
Madison, Wis., Sept. 16 – HSBC USA Inc. plans to price 0% airbag performance securities due Sept. 23, 2024 linked to the S&P/TSX 60 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 165% of the gain.
If the index return is zero or negative but greater than or equal to the negative 30% threshold percentage, the payout will be par.
If the index falls by more than 30%, investors will lose 1.4285% for every 1% index decline beyond 30%.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Sept. 17 and settle on Sept. 22.
The Cusip number is 40434D590.
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