HSBC to price allocation securities linked to basket of three ETFs

By Marisa Wong

Morgantown, W.Va., Nov. 11 – HSBC USA Inc. plans to price 0% allocation securities due Nov. 30, 2021 linked to a basket of the SPDR S&P 500 exchange-traded fund, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The best performing of the ETFs will be given a 60% weight, the ETF with the second-best performance will be weighted at 40%, and the lowest-performing ETF will not count toward the basket performance.

The payout at maturity will be par of $10 plus the basket return. The notes are not principal protected, so investors will receive less than par if that basket return is negative.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes will price Nov. 28.

The Cusip number is 40435B379.

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