HSBC to price trigger performance notes linked to Vanguard FTSE EM

By Angela McDaniels

Tacoma, Wash., Oct. 2 – HSBC USA Inc. plans to price 0% trigger performance securities due Oct. 30, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par of $10 plus 118% to 128% of the ETF return. The exact participation rate will be set at pricing. Investors will receive par if the ETF falls by up to 25% and will be fully exposed to losses from the initial share price if it falls by more than 25%.

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

The notes will price Oct. 27 and settle Oct. 30.

The Cusip number is 40434K743.

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